Sunday, June 20, 2010

US Anti-China Rhetoric at Danger Level

(Benjamin Shobert — Asia Times)

The US-China Congressional Committee (USCC) this month held its most recent hearing on US-China relations, specifically on “China’s Past and Future Role in the World Trade Organization” (WTO). As Commissioner Patrick Mulloy stated at the opening, “The purpose of today’s hearing is not to second guess what Congress did 10 years ago. Its purpose is to look at the arguments made in favor of China’s WTO entry by proponents and to consider the results.”

Considering the political environment in Washington, where recent days have been marked by the most serious bi-partisan efforts of the past decade to introduce legislation that would impose new trade barriers on Chinese-made goods, and increase pressure for an upward revaluation of the yuan against the US dollar, Mulloy’s comments are particularly meaningful. Read more here.