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US President Bush Supports Trade with China
US President George W. Bush changed his tone toward China Tuesday in a speech to electronic industry executives, many of whom are eager to expand their business ties with the world's potential largest country.
"China is a great emerging nation," said Bush as he addressed members of the Electronic Industries Alliance.
"I strongly support trade with China."
The comments followed a period of rising tensions between Washington and Beijing sparked by an emergency landing of a US Navy surveillance plane on China's Hainan Island following a mid-air collision with a Chinese fighter jet.
China has also been infuriated by the Bush administration's decision to sell arms to Taiwan and develop a national missile defense system.
But Bush, in his speech, took a softer line toward Beijing. Not only would trade with China be good for US farmers and industrialists but it will also help promote democratic values, he said.
"Open markets eventually will cause folks to demand more freedoms when they get a taste of the marketplace," said Bush.
Since China's membership in the World Trade Organization has not been finalized, the US Congress is likely in June to again take up the issue of granting China permanent normal trade relations status, a measure needed to lower US trade tariffs.
The president also repeated his appeal to Congress to grant him trade promotion, or "fast track," authority that would facilitate his negotiating foreign trade agreements by giving Congress the right to accept or reject them as a whole but not amend them.
"There's a new protectionist sentiment in America that we need to resist," said Bush.
"It's time to promote open markets," he stressed. "I strongly believe open markets will lead to better lives for people."
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