China's sanction threat triggers panic among U.S. companies

14:29, February 04, 2010      

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After China explicitly declared that it will impose sanctions on those U.S. companies involved in arms sales to Taiwan, panic spread among U.S. companies, especially Boeing. This is despite China having not yet announced specific sanctions or measures, according to information from Hong Kong's Wen Wei Po.

Boeing is the main player in China's aviation industry and it plans to sell aircraft worth more than 200 billion U.S. dollars to China in the next 20 years. Therefore, besides the possible loss of future orders, the sanction may also affect the current assembly or production of spare parts in China to more than one third of the aircraft, according to Financial Times.

Bisignanci, director general of International Air Transport Association (IATA) said China played a very important role in overcoming the financial crisis and promoting the recovery of the aviation industry, sanctions will bring difficult and unfortunate situation. He calls for negotiation between China and the U.S.

By People's Daily Online
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