WTO Chances Darken As U.S.-China Talks End Without Progress
(11/12/1999) Last-ditch trade talks between the U.S. and China ended Friday without the much sought after trade accord, darkening China?s chances of joining the World Trade Organization (WTO) ahead of the start of the next trade round on November 30.
U.S. Trade Representative Charlene Barshefsky reported that no progress was made in three days of negotiations in Beijing with her Chinese counterpart, Shi Guangsheng, Minister of Foreign Trade and Economic Cooperation, the USTR Washington office confirmed on Friday.
"There are no positive developments to report at this time," a USTR spokesperson in Washington said.
U.S. President Bill Clinton remained upbeat today and said he is not giving up hope for reaching a deal with Beijing.
"I have not given up," Clinton said during a White House photo shoot with visiting Indonesian President Abdurrahman Wahid. "I think it would be a very good thing for the world, and a very good thing for the Chinese if China were in the WTO."
"But there are a finite and limited number of issues over which there are still differences, and they're working on them," Clinton said. "I'm certainly glad we've pursued it, and we will continue to do so."
But it was a dismal end to a week filled with optimistic statements from both sides of the negotiating table.
After the first day of talks ended on Wednesday, the American side said it was "impressed" by the composition of the Chinese team, which included Minister of Foreign Trade and Economic Cooperation Shi Guangsheng, and China?s chief WTO negotiator Long Yongtu, a deputy MOFTEC minister. A MOFTEC official told the People?s Daily after Wednesday?s talks that he was "optimistic" about the latest round of discussions.
Shi sounded upbeat on Thursday, speaking of "strong hopes" for joining the WTO. On the same day, Barshefsky characterized the talks as having been "more substantive and detailed" than previous meetings. Also on Thursday, the technical meetings went well into the night, and both sides agreed to extend the talks for an extra day.
Another barometer of optimism, the global financial markets, reflected the hopes on both sides on Tuesday, with share prices across Asia rising in response to Monday?s news of renewed talks.
The EU, Canada, and the United States are the last three major trading partners that have yet to reach a WTO deal with China. Beijing has sought entry into the global trade body for the past 13 years.
To contact William J. McMahon:
P: (312) 335-8881
F: (312) 335-9299
E: bmcmahon@chinaonline.com
chinaonline.com
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