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4841. Permanent Normal Trade Relations for China

Author:
Nicholas R. Lardy
Publication Date:
05-2000
Content Type:
Policy Brief
Institution:
The Brookings Institution
Abstract:
In what has been described as its most important vote this year, the U.S. Congress will soon decide whether to provide permanent normal trade relations to China. A vote is required because, after 14 years of negotiations, China is poised to enter the World Trade Organization (WTO). Assuming China concludes its bilateral negotiations with the European Union by June or July, entry is likely before the end of the year. The cornerstone principle of the World Trade Organization is that members provide each other unconditional Most Favored Nation trade status, now called Permanent Normal Trade Relations (PNTR) in U.S. trade law. Current U.S. law precludes granting PNTR to China; as a result President Clinton has asked Congress to amend the law. A negative vote would have no bearing on China's entry into the World Trade Organization, but it would mean that U.S. companies would not benefit from the most important commitments China has made to become a member. Gaining the full range of benefits is particularly important in light of the large and growing deficit the United States faces in its trade with China (Figure 1). A positive vote would give U.S. companies the same advantages that would accrue to companies from Europe, Japan, and all other WTO member states when China enters the World Trade Organization. It would also provide an important boost to China's leadership, that is taking significant economic and political risks in order to meet the demands of the international community for substantial additional economic reforms as a condition for its WTO membership. A positive vote would strengthen bilateral economic relations more generally. That may help place a floor on the broader bilateral relationship, which continues to face critical challenges on security issues, stemming largely from tensions between China and Taiwan, and on human rights issues.
Topic:
International Relations and International Trade and Finance
Political Geography:
United States, China, Europe, and Asia

4842. A Foreign Policy Report Card on the Clinton-Gore Administration

Author:
Jonathan G. Clarke
Publication Date:
10-2000
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
The foreign policy record of the Clinton-Gore administration deserves a less than stellar grade. At the end of the Cold War, there was an extraordinary opportunity to build a new relationship with a democratic Russia; restructure U.S. security policy in both Europe and East Asia to reduce America's burdens and risk exposure; and revisit intractable Cold War–era problems, such as the frosty relations with Cuba, Vietnam, and North Korea. The administration's performance must be judged within the context of such an unprecedented opportunity for constructive change.
Topic:
International Relations and Foreign Policy
Political Geography:
Russia, United States, China, Europe, Israel, East Asia, Asia, North Korea, and Vietnam

4843. China's Long March to a Market Economy

Author:
Mark A. Groombridge
Publication Date:
04-2000
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
The U.S. Congress is in the historic position of being able to help pro-reform leaders in China move their country in a market-oriented direction. A vote to grant China permanent normal trade relations (PNTR) status will bolster the position of those leaders in Beijing who are attempting to deepen and broaden the scope of China's two-decade experiment with economic reform. Granting PNTR and China's subsequent accession to the World Trade Organization will benefit, not only the United States and the world trading community, but most directly the citizens of China, millions of whom are still mired in abject poverty.
Topic:
International Relations, Foreign Policy, and International Trade and Finance
Political Geography:
United States, China, Beijing, and Asia

4844. Financial Services Liberalization in China: Conservative Gradualism

Author:
Chen Yixin
Publication Date:
01-2000
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
Recent years have seen increasing liberalization of trade in financial services associated with the GATT / WTO negotiations. The Agreement concluded on 13 December 1997 by 70 WTO members will result in a significant impact on the financial services sector for these members. Although China has not yet been admitted to membership of the WTO, it has come under pressure to open its financial services market. Market access in this sector has been not only one of the major issues in its WTO accession talks, but also intrinsically linked to China's ongoing domestic financial system reforms, consistent with the gradualist scheme for its overall economic reform. China has been liberalizing its financial services sector, but only gradually. This paper outlines the reforms in its financial sector since 1979, and then offers an explanation for the slow speed of reform .
Topic:
Economics and International Trade and Finance
Political Geography:
China and Shanghai

4845. Chinese Nationalism and Its International Orientations

Author:
Suisheng Zhao
Publication Date:
03-2000
Content Type:
Journal Article
Journal:
Political Science Quarterly
Institution:
Academy of Political Science
Abstract:
SUISHENG ZHAO explores whether or not Chinese nationalism is a source of international aggression by examining its different perspectives, orientations, and characteristics. He finds that Chinese nationalism has been a situational matter, more reactive than proactive in international affairs.
Topic:
Foreign Policy, Nationalism, Politics, and International Affairs
Political Geography:
China and Asia

4846. Nesting the Alliances in the Emerging Context of Asia-Pacific Multilateral Processes: A U.S. Perspective

Author:
Douglas Paal
Publication Date:
07-1999
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
As Americans consider their options for protecting and advancing their interests in Asia in the twenty-first century, it is natural that there will be wide-ranging views and vigorous debate. Recent events such as the 1996 Taiwan crisis, the Asian economic meltdown in 1997, and the exchange of state visits by presidents Bill Clinton and Jiang Zemin in 1997 and 1998 have intensified, then moderated and redirected, much of the debate over a very short span of time. Two years ago, for example, the Chinese were worrying aloud about American efforts to “encircle” China. Now they talk about “building a constructive strategic partnership with the U.S.” Despite these ups and downs, however, the fundamental choices for the United States have remained largely the same.
Topic:
Security
Political Geography:
United States, China, America, Taiwan, and Asia

4847. China and the U.S.-Japan and U.S.-Korea Alliances in a Changing Northeast Asia

Author:
Chu Shulong
Publication Date:
06-1999
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
The American security alliances with Japan and South Korea have been a major concern of China's foreign and defense policies. China's position toward the alliances is determined by its foreign policy and security theories, doctrines, and principles; by its approach to a regional security mechanism in the Asia-Pacific region; by its bilateral relations with countries in Northeast Asia; and by incidental issues such as territorial disputes in Asia in which it is involved.
Topic:
Security
Political Geography:
United States, Japan, China, Asia, and Korea

4848. New Estimates of the United States - China Trade Balances

Author:
Lawrence J. Lau and K.C. Fung
Publication Date:
04-1999
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
The United States and China have vastly different official estimates of the bilateral trade imbalance. The U.S. figures show that the United States had a merchandise trade deficit of US$57 billion vis-à-vis China in 1998 whereas the Chinese figures show that China had a merchandise trade surplus of only US$21 billion vis-à-vis the United States. There is a difference of US$36 billion. Which set of figures is right?
Topic:
International Trade and Finance
Political Geography:
United States, China, and Asia

4849. Japan-ROK Security Relations: An American Perspective

Author:
Michael J. Green
Publication Date:
03-1999
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
This monograph explores contemporary Japan-ROK security relations from the perspective of U.S. strategic interests in Asia. Japan and the Republic of Korea have been aligned but not allied since the beginning of the Cold War, and the United States has long been frustrated in its desire to strengthen the Japan-ROK leg of its network of bilateral alliances in Asia. The United States abandoned the goal of encouraging a formal U.S.-Japan-ROK alliance early on in the Cold War, and in the current strategic environment a trilateral alliance would probably be counterproductive. At the same time, however, the fluidity of East Asian security relations today has heightened the dangers of leaving the Japan-ROK security relationship in an ambiguous state. Closer Japan-ROK security cooperation will enhance U.S. efforts to maintain forward presence, manage diplomacy and potential crises on the Korean Peninsula, and integrate China as a cooperative partner in the region. In contrast, distant Japan-ROK relations would complicate all of these U.S. objectives. Hostile Japan-ROK relations, particularly in the context of Korean reunification, would have a spillover effect on Sino-U.S. relations and could return the region to the great-power rivalry of the last century.
Topic:
Security
Political Geography:
United States, Japan, China, Asia, and Korea

4850. The Korean-American Alliance and the "Rise of China": A Preliminary Assessment of Perceptual Changes and Strategic Choices

Author:
Jae Ho Chung
Publication Date:
02-1999
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
Does history repeat itself? It appears so for Korea as an unfortunate geopolitical pawn of its stronger neighbors for the last century or so. History does not seem to repeat in quite the same way, however. As Chinese diplomat Huang Zunxian recommended in 1880 that Chosun (Korea's official designation during the Yi Dynasty) “side with the Qing” ( qinzhong ) while relegating the relative importance of Japan and the United States to the levels of “aligning and connecting” ( jieri and lianmei ), respectively, Korea remained for the most part the most loyal subsystem of the Sinic world order, thereby missing out on opportunities for self-strengthening and realignment and eventually becoming a Japanese colony. More than a hundred years later, the Republic of Korea (hereafter Korea) may now be about to confront a similar dilemma, but this time with a reversed order of preferences. That is to say, the rise of China, with which Korea has already accomplished diplomatic normalization, may gradually force the Seoul government to reconfigure its Cold War–based strategic thinking and reassess its half-century alliance relationship with the United States.
Topic:
Security
Political Geography:
United States, China, Asia, and Korea