Sunday, September 19, 2010

US trade deficits with about 90 countries

If the US had a deficit only with China, it could have blamed the yuan's value. But it has trade deficits with about 90 countries, which proves the problem is its own making.

The US has for long been the leader in core areas such as hi-tech and financial services, making huge profits from overseas markets. It, however, has failed to become a low-end production base and thus has to rely on imports of products, even necessities, from countries such as China to meet its domestic demand.

Thursday, September 2, 2010

Misreading China goes both ways

http://opinion.globaltimes.cn/commentary/2010-07/554056.html

why China joined the WTO

Ye Xiaowen (Ye), vice president of Central Institute of Socialism and former director of State Administration of Religious Affairs

I've consulted one of my former schoolmates, Long Yongtu, the chief negotiator of China's accession into the World Trade Organization. I wondered why he was so occupied by his work, and asked why China must join the WTO.

He gave me an example: If a farmer comes to the market with a load of farm produce, he goes home when he sells his vegetables. When his business becomes something bigger, he may have a vegetable stall, or a small shop, or even chain stores and supermarkets, and he must get to know and abide by the market rules, in order to fight for and protect his own rights. So he is bound to join the trade organization, observe its rules, and take part in the rule-making.

Today, the farmer has become the CEO of the world's largest supermarket, China's foreign trade exports are the first in the world, and we have joined the WTO, and opened to the world.

Gauging China's strength correctly

http://opinion.globaltimes.cn/editorial/2010-08/565068.html

What China Should Do

China should further host more international events in its 2nd- and 3rd-tier cities, or even in the countryside, so that millions of foreign business people or officials can have a chance to look deeper into the country.

rights

https://www.google.com/search?q=China+rights