[Shadow_Group] Walmart will be happy: Stable trading relations with US expected - China

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it's where they get most of their slave labor from
=================
Stable trading relations with US expected
By Dai Yan (China Daily)
Updated: 2004-11-04 22:37

FROM:
http://www.chinadaily.com.cn/english/doc/2004-11/04/content_388675.htm<http://www.chinadaily.com.cn/english/doc/2004-11/04/content_388675.htm>
US trade policy with China is unlikely to witness
dramatic changes during the next four years, and the
steady growth of Sino-US trade is expected to
continue. 

George Bush's victory was good news for many Chinese
companies selling goods and services to the United
States, since Democrat John Kerry had attributed the
loss of US jobs to trade and outbound investment, said
Zhao Xijun, a professor from the Renmin University of
China. 

Bush will continue to promote investment and trade,
especially with a collective push from big companies,
he said. 

China and other countries are expecting a more stable
trading relationship with the United States, he said. 

"It is favourable for Chinese companies to have a
situation unchanged by a Bush victory, which may bring
less friction," Zhao said. 

Daniel Griswold, director of the Centre for Trade
Policy Studies at the Cato Institute, said President
George W. Bush speaks often of the benefits of trade
for the US economy. 

The Bush administration strongly supported China's
entry into the World Trade Organization, and has
worked constructively with China on a range of trade
issues, he said. 

It rejected a string of Section 421 requests by US
industries to restrict imports of Chinese-made wire
hangers, pedestal actuators and brake parts. The Bush
administration also dismissed two Section 301
petitions that would have imposed tariffs on Chinese
imports in retaliation for alleged labour abuses and
currency manipulation. 

During the administration's tenure, two-way trade
between the United States and China has continued its
spectacular growth, from US$74 billion in 2000 to
US$126 billion in 2003, according to Chinese
statistics. 

This year the number is expected to hit US$150 billion
and the trade volume in the first three quarter has
surged by 34 per cent to US$122 billion, according to
Chinese estimates. 

As the world's most-developed country, with the best
high-tech production capabilities and abundant
capital, the United States has developed closely
interdependent relations with China, which is the
biggest developing country, and which has a vast
market and great desire to receive foreign investment,
said Wang Youli, an expert from the Chinese Academy of
International Trade and Economic Co-operation. 

Different economic structures have made the bilateral
trade ties a win-win game, Wang said. 

However, that is not to say that there will be no
friction between China and United States, Wang said. 

Just before the election, the Bush administration
decided to re-impose quotas on Chinese socks and
agreed to consider safeguard measures on Chinese
cotton trousers. 

Griswold said Bush had not been immune to
protectionist pressures. 

His Commerce Department has rejected arguments to
recognize China a "market economy" for purposes of
anti-dumping calculations. 

His administration has also retreated from free trade
principles in the face of political pressure, casting
a cloud of uncertainty over the trade policy of a
second Bush term, he said. 

But analysts all agreed that it does not really matter
who becomes president of the US, the impact on China
will be minimal. 

Sino-US relations are shaped by the mutual interests
shared by the two countries under a giant framework,
rather than by individuals, Wang said. 

Neither Bush nor Kerry can weaken, let alone cut off,
existing bilateral trade relations, he said. 

The trade deficit with China is always a problem for
the US government. The Chinese Government is seeking
to resolve the imbalance and China's capability to
import from the United States will further grow with
its economic development, Wang said. 

The US export control against China also represses
full play of its comparative advantages, leading to a
trade imbalance between the two countries.



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