EU Chief Says Many Issues To Solve Before China Trading Status Upgraded

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The rewards for China in making some basic changes to the way it treats its citizen will be vast arrays of Western technology that will power China to ever greater heights as the world's next hyperpower.

Hong Kong (AFP) Jul 18, 2005
European Union chief Jose Manuel Barroso said Monday there are many technical issues to overcome before the bloc grants China the status of a market economy.

The European Commission president, in Hong Kong on the final leg of a four-day tour of China, said he wants to see the economic giant to be granted such a status.

"The specific issues are many and they are technical," he told reporters after a brief meeting with the Chinese territory's political leader Donald Tsang.

"Services is important, banking is important, non-discrimination of foreign companies is important, property rights are important."

China is seeking to secure the status, which would make it more difficult for its trading partners to impose penalties on dumping of Chinese exports.

Barosso, who earlier met China's President Hu Jintao and Premier Wen Jiabao in Beijing and visited Shanghai and Macau, said he was confident the matter would soon be resolved.

"We can find pragmatic solutions," he said. "I'm sure that the Chinese authorities understand the need for further steps in this direction."

China has spent the years since joining the World Trade Organisation in 2001 trying to persuade trading partners to grant it market economy status.

So far almost 30 countries have agreed but persuading the United States and the EU remains the big prize.

The EU turned down a formal request from China in June last year, concluding that its economy suffered from too much state interference, weak rule of law and poor corporate governance.

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China Unocal Bid Fraught With Security, Economic Risks: US Experts

Washington (AFP) Jul 13, 2005
Security experts cautioned Wednesday against China's bid for US oil giant Unocal, warning US lawmakers that a takeover would have dire economic and national security repercussions for the United States.

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