November
14, 2005 |
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High on Asia |
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nly
a couple of days after President Bush returned from his failed visit
to Latin America, he's taken wings for Japan, South Korea, China
and Mongolia. Why would he include Mongolia? Because, lest we forget,
they have provided 131 soldiers to help in our war in Iraq. Our hope,
of far greater significance, is that the time the President is spending
in China can be productive. We have this strained relationship with
the rapidly growing economy in a nation of 1.3 billion people. There
are many who are convinced and concerned that China's rapid economic
expansion poses an inevitable threat to the United States. A line
in a recent lead editorial in the New York Times put it in a nutshell, "For
the last year, America's love-hate relationship with China has been
more hate, less love." This summer the Congress blocked a Chinese
government-owned company, Cnooc, from buying Unocal. Very recently
the textile industry got DC to strike a deal with China which will
limit the import of bras and socks. Days ago a bipartisan advisory
group delivered a report to Congress that criticized China's trade
practices and endorsed imposing sanctions... unless Beijing takes
significant steps to let its currency move in accord with market
forces. It's too big a nation... a global power... with which to
play the game of trade sanctions. Let's hope the President's touring
team has impressive proposals to put on the table so that, for example,
they can join us in putting pressure on the corrupt Sudanese government.
Maybe the talks with China's leader, President Hu Jintao, will result
in the leadership reversing itself and help us to get imposed United
Nations economic sanctions on Iran for its nuclear program. |
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