China is rebuffing allegations by the United States that it has been
backsliding on trade agreements. The accusations come two years after China
joined the World Trade Organization.
U.S. Commerce Secretary Donald Evans this week criticized China for
what he said is its failure to make good on promises to remove trade barriers,
ease restrictions on foreign companies and crack down on piracy.
Chinese Foreign Ministry spokesman Kong Quan on Thursday
rejected the U.S. allegations.
Mr. Kong says China has reduced overall tariffs and stepped up piracy
controls. He says new legislation is in place that is in line with China's
commitments. He also says new steps have been taken to improve
transparency.
U.S. officials, however, have charged that, while laws have been put
on the books, China is not doing enough to convict those who pirate items -
everything from compact discs to airplane parts and
pharmaceuticals.
Taking steps to protect intellectual property rights and dismantle
trade barriers were among the things China promised to do when it joined the
World Trade Organization two years ago.
The U.S. Commerce Department this week announced it plans to form a
task force to investigate what U.S. officials say are unfair Chinese trade
practices. And next week, it will issue a report in which it is expected to
accuse China of failing to ease trade restrictions.
A
rising U.S.-China trade deficit is providing fuel for political jousting in the
United States ahead of next year's presidential elections.
The Bush administration is vowing - among other measures - to push
China on relaxing its controls on its currency, the yuan. American trade
unions, manufacturers, and others say an undervalued Chinese currency is
cheating Americans out of jobs by making Chinese products artificially
cheap.
China says it has no immediate plans to remove the currency peg,
saying a stable monetary unit is essential to its growth. The communist
nation's economic output has at least quadrupled over the past two decades. The
Chinese government estimates this year's growth will exceed seven percent. Many
economists believe this number is exaggerated, but concede that China's economy
is one of the fastest growing in the world. .
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Note:
You have a responsibility to yourself and your society to
discover the facts of this undeclared economic war against the USA. You have to
become educated enough on the matter to decide whether such a war has begun.
The only viable way you will be able to educate yourself on this matter is by
developing a close familiarity with the international
news.
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. G7
Ministers Discuss Exchange Rates VOA
News 20
Sep 2003, 16:35 UTC
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Finance ministers from the world's leading industrial democracies are
discussing steps to boost world trade by implementing flexible, market-based
exchange rates.
The ministers are meeting Saturday, in Dubai ahead of a World Bank -
International Monetary Fund conference due to start Tuesday in the emirate.
U.S. Treasury Secretary John Snow says he favors expressing support for
flexible exchange rates in the Group of Seven's final
communiqué.
While no one at the G7 meeting has directly referred to one country,
analysts say what's at issue is loosening China's iron grip on its currency to
promote more favorable conditions for foreign exporters. Meanwhile, the U.S.
treasury secretary said Washington will continue to provide financial
assistance to the Palestinian Authority.
Representatives from the World Bank and IMF for the West Bank and
Gaza Strip say that about $1 billion is necessary to keep the troubled
Palestinian economy afloat through next year.
Mr. Snow is also at the meetings to urge other nations to contribute
to the reconstruction of Iraq and Afghanistan. The United States has estimated
that Iraq's reconstruction will cost between $50 and $75
billion.
Some information for this report provided by AP, AFP and
Reuters.
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