These allegations are misleading. The government has proposed facilitating China`s accession to the WTO at a time when the United States already has a large trade deficit with China. In 1999, the United States imported about $81 billion in goods from China and exported $13 billion, a 6-1 ratio of imports to exports, which is the most unbalanced relationship in U.S. trade history. 2 While exports created some 170,000 jobs in the United States in 1999, imports eliminated nearly 1.1 million domestic jobs, resulting in a net loss of 880,000 manufacturing jobs, with high wages. 3 Standardized trade with China «is not just strategic,» said Roth, R-Delaware. «It also reflects a practical commitment to sustained and sustainable economic growth and a rising standard of living here. The bill is the result of an agreement between the United States and China last fall, in which China made major concessions on reducing tariffs and opening its markets as a precondition for entry into the World Trade Organization. «Of course, trade with China per se will not lead China to make all the decisions we think are itself,» Clinton said. But the more China opens its markets, the more it unleashes the power of economic freedom, the more likely it is to unleash the human potential of its people. «Let`s be clear as to why a trade deficit could decline in the short term.
China exports much more to the United States than it [outside] the U.S…. It will not grow as strongly as it would have been without this agreement, and over time, with this agreement, it will clearly shrink. 1 Business leaders welcomed this result as evidence that they were able to support a trade agreement despite a series of defeats in the mid-1990s. Many feared that after the failure of global trade negotiations in Seattle late last year, the anti-globalization atmosphere would make it difficult for Congress to obtain the simplest and most economically advantageous trade measures. Some opponents feared that in the absence of an annual vote on trade, the United States would not be able to influence Beijing on human rights. To address these concerns, the law calls for the creation of a Congressional Executive Committee on Human Rights Oversight in China and the creation of a so-called buoyancy mechanism to help American industries and workers who are being undermined by increased Chinese imports. Conclusion The U.S. government`s comprehensive assessment of the costs and benefits of the China-WTO agreement shows that the U.S. trade deficit with China would continue to grow for the foreseeable future, even under unrealistic assumptions.
- Posted by wbase
- On 19 diciembre, 2020
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