 |
US Granting of China's PNTR Favorable to World Economy, Businessmen
The United States granting of permanent normal trade relations (PNTR) to China is favorable for
the development of Sino-US economic and trade relations, and economic globalization as well.
These remarks were made by both Chinese and foreign businessmen and experts attending the fourth China Fair for International Investment and Trade, which concludes Tuesday in Xiamen, a port city in southeast China's Fujian Province.
Dr. Friedrich Seitz, managing director of BASF-China, said he hopes that the United States passes the motion on granting China the PNTR as soon as possible.
However, Friedrich said, "This is not a prerequisite condition for China's accession into the World Trade Organization (WTO). Whether the US adopts the motion or not, China is certain to become a full member of the WTO."
Claus Gersonde, director of IBMT research institute under the Fraunhofer Engineering Research Academy of Germany, said, "Normal trade relations can promote open and just competition on the market."
"The US should grant China PNTR treatment, which benefits the two countries, and world trade as well," he said
Shao Ning, director of the Maryland Business Center China is confident that the US will approve the motion. "The majority of the US Congress support granting China permanent normal trade relations," she said.
"I think and we hope that the US Congress will adopt the motion. If not, the US will suffer a greater loss than China," said Chu Baotai, a researcher with the China Academy of Management Sciences.
Businessmen from Hong Kong and Taiwan also expressed the hope that the United States would adopt the motion of granting China PNTR, noting this will benefit all countries worldwide.
China and the United States have given each other the most-favored nation trading status after the two sides established diplomatic relations in 1979. However, every year the United States discusses unilaterally whether or not to grant China the MFN, which means, "most-favored nation trading status."
US president Bill Clinton changed the wording of "MFN status" into "normal trade relations" in a bill in 1998.
On May 24 this year, the US House of Representatives adopted the motion voting 237 to 197. According to the motion, the US will stop its annual examination and discussion on granting China PNTR treatment after China becomes a full member of the WTO.
The US Senate, on September 7, approved that the examination and discussion of the motion has entered its final stage, by voting in favor of it 92 to 5. The US Senate will have a final voting before September 15.
In This Section
|