Word: trades
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Dates: during 1990-1999
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Jiang's state visit to the U.S., which included talks with President Clinton on trade issues as well as several banquets with corporate leaders, prompted Wu to criticize "proponents of engagement with China [who] argue that economic development will lead to democracy...
...that doesn't mean it won't have a lasting impact. David Hale of Zurich Kemper Investments predicts a surge of up to 25% in Asian imports made cheap by devaluation and a contraction in U.S. exports of as much as 15%. The result could be that the U.S. trade deficit, now $191 billion, would balloon to as much $300 billion next year and fan a protectionist outcry...
...perilous on the globe, on the right track for the next century. Up to now he hasn't defined the terms of that connection very well, Republicans and many Democrats have formed a China-bashing alliance, and groups with a host of complaints about issues from human rights to trade browbeat the Administration to treat China as a pariah. Like Jiang, Clinton has to persuade his countrymen that the People's Republic is less communist than they fear and more benign than they think if he is to pursue an effective policy of engagement. As Clinton said in a speech...
DELIVERABLES. To claim his own success, Clinton needs what U.S. officials call deliverables: specific commitments from Beijing that will prove the strategy of engagement is paying off. While Washington wants results on human rights, trade and nuclear nonproliferation, China wants concessions on Taiwan, permanent most-favored-nation status, and admission to the World Trade Organization. It's going to be tough to satisfy either side...
Esner took President Clinton to task for, in his words, not following up his campaign promises of 1992, when he chastised President Bush for buckling on human rights issues in the face of business leaders who wished to extend China's Most Favored Nation trade status. "If anyone has a memory, I do recall that our president ran on a human rights platform. Where is he now?" she asked...