US media urge gov't not to surrender China market to EU

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Last updated at: (Beijing Time) Tuesday, February 10, 2004

US media urge gov't not to surrender China market to EU

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While the United States is restricting the export of Hi-tech products to China and tightening the visa release to the United State, the European Union is rapidly strengthening its trade and diplomatic ties with China. The Wall Street Journal published an article last weekend warning the US not to surrender its market in China to EU.

The article points out now the Europeans are more interested in China than ever before. The enterprises invested by European Union in China have come to 2,000 now while that of the US investment has numbered only around 4,000 in total. Nevertheless, the investment of European Union is increasing at a rate of 40 percent - two times that of the United States.

After "September 11 Incident" the United States further tightened the restrictions on the export of hi-tech products and weapons to China. By way of contrast the Europeans are not afraid of helping China develop chemical, mechanical and hydraulic industries. German Siemens, Swedish and Swiss ABB provided China with turbines and railway equipment. German BASF and British BP Oil are engaged in the construction of China's ethylene project.

The newspaper said the EU and China is going to sign a document next Thursday in Beijing to facilitate the Chinese travelers to Europe. To welcome Chinese businessmen most EU members provide the "fast traffic lane" service with commercial visas for Chinese businessmen. It takes only one to three days to get a visa.

America not only has no favorable policies as such but also refuses visas to many a great businessmen and students after "September 11 Incident". Due to the difficulty of getting visas Chinese students applying for its graduate schools had been reduced by 30 percent said an article in the Yale University journal. Putting out an article in International Herald Tribune the president of Yale urged that the US government should continue and reinforce the cooperation and exchange programs with China in order to preserve the multi-polarization of the student body.

Should Washington continue to set visa obstacles for Chinese businessmen and students the Sino-US relations will suffer in the long run, said Andy Rothman - an analyst of the research company CLSA specialized in Asia-Pacific market when interviewed by Wall Street Journal, and the European Union and other countries would be the beneficiaries.

The Chinese students are well received in EU countries, who are not only viewed as bringing business opportunities to Europe but also a potential bridge spanning European countries to China. There were only few Chinese in Ireland ten years ago. Now it has about 40,000 Chinese there, most of them are students. Michael Garvey, a representative of Enterprise Ireland in Shanghai said, we couldn't successfully persuade Irish to study Chinese language. But Chinese students could make friends here and become the backbone for promoting the business transactions between Ireland and China in the future.

Citing an analyst at the investment bank UBS, the newspaper said, to develop the relationship with European Union is advantageous to China. By doing so, it can have more options instead of "putting all eggs in one basket".

By People's Daily Online

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