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Refusal of PNTR Will Bring About Serious Results, Experts
Serious results will follow if the United States Congress refuses to grant China permanent normal trade relations (PNTR) status, according to Eugene Martin, charge d'affaires of the U.S. embassy in Beijing, and some experts from the Asia-Pacific region.
They made the comments here today at a session of the U.S. Asia Society's 11th Annual Corporate Conference.
At a round-table discussion, Marshall Bouton, executive vice-president of the Society, asked participants to comment on the impact if the U.S. Congress refuses to grant China PNTR status on a scale from one to ten.
Martin said that he would choose eight. He explained that a refusal of PNTR status to China would mean isolating China, adding that it would also lose the broad basis for dialogue between the U.S. and China on a range of issues.
In addition, a refusal of the PNTR status will affect the economic relations between the two countries, said Martin, adding that the U.S. government is doing its best to try to avoid such an outcome.
He said that he is "modestly optimistic" that the PNTR status will be passed.
Nayan Chanda, deputy chief editor of the Far East Economic Review, also chose eight. He commented that even if the U.S. Congress fails to pass the PNTR status to China, China also can become a WTO member.
The U.S. will gradually realize the harm resulted from the disharmony of trade between the two countries, Chanda explained.
He said that he believes if the PNTR status is not passed this year, it will be granted next year.
Yoichi Funabashi, chief diplomatic correspondent and columnist of "Asashi Shimbun", and also an International Council Member of the Society, chose nine. He said that the failure of the PNTR passage will have negative impact on the Japan-China and Japan-U.S. relations.
Shen Dingli, professor and deputy director of the Center for American Studies of Fudan University, chose between three and four. He said that if the PNTR status is passed, it would be a win-win result, explaining that the U.S. can gain immediate economic and trade benefits, while Chinese enterprises will be able to become more competitive in the long term.
It would be the U.S. own business if it decides to give up its trade interests.
Nicholas Platt, president of the Society, said in an interview prior to the discussion that he strongly supports the Congress in grantiong China PNTR status.
Platt stressed that the development of U.S.-China trade has become an irreversible trend, which requires the two countries to maintain normal trade and economic relations.
The three-day U.S. Asia Society's 11th annual corporate conference ended today. More than 800 statesmen, business leaders, and scholars participated in the event.
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