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Microcap & Penny Stocks : Largo Vista -Crown Jewel of China 1998 and Beyond! LGOV

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To: Dusty who wrote ()4/19/2000 8:55:00 PM
From: jmhollen   of 295
 
"....From the jus' so's ya know Department....":

WASHINGTON, April 18: The White House is shaking off House Democratic leader Dick Gephardt's decision to oppose normalized trade relations with China, predicting the bill will have the votes to pass once the administration makes its case to the party's rank-and-file lawmakers.

The vote will be potentially dangerous for Democrats who rely on backing from labor unions to win re-election.

HOUSE REPUBLICANS are expected to support the bill by a comfortable margin next month, and White House spokesman Jake Siewart noted Monday night that Gephardt intended to ?let Democrats in the caucus vote on this up or down on the merits. ?We think that given a chance to explain the merits of this deal to the Democratic caucus, that we?ll secure enough support to approve the agreement,? he added.

Gephardt is expected to announce his decision formally on Wednesday in a speech in St. Louis, but Democrats familiar with the situation said Monday night he already had informed the White House of his planned opposition.

AT ODDS WITH LABOR UNIONS The issue is a politically perilous one for Gephardt and the Democrats, who are waging a strenuous battle to win back the House in the fall elections.

Unions lobby Congress on China trade

Organized labor is fighting the trade bill, fearing the loss of jobs. Business groups, eager to open up an enormous new market, are strongly for it. That sets up a potentially dangerous vote for Democratic lawmakers from swing districts, who might customarily rely on backing from the AFL-CIO to win re-election campaigns.
Under Gephardt?s leadership, Democrats also have made a strong effort to raise campaign donations from business leaders, particularly the high-tech industry, without weakening their traditional ties to organized labor.

Gephardt has been a critic of other trade bills in the past, arguing they didn?t do enough to protect against the loss of domestic jobs or prevent environmental damage overseas. As a result, anything other than opposition by Gephardt to the China measure would have come as a surprise. He opposed the North American Free Trade Agreement in 1993, for example, although it passed with a coalition of GOP and Democratic votes. A few years later, he led the opposition to a measure to strengthen presidential authority in negotiating trade deals abroad. Until this year, Congress has reserved the right to make an annual decision on whether to extend trading rights to the Chinese that are currently extended to almost every U.S. trading partner. The pending legislation would put an end to that practice in favor of a permanent grant.
The Democratic leader is expected to argue the measure is not strong enough to justify surrendering the potential for the United States to influence China?s policies on human rights, the environment and other areas, according to Democrats who are familiar with his plans. His decision puts him at odds with President Clinton; the two major party presidential nominees for the fall election, Vice President Al Gore and Texas Gov. George W. Bush; and the senior GOP leadership in the House, including Speaker Dennis Hastert. In opposing the legislation, though, Gephardt would side with the majority of his own Democratic caucus, as well as virtually the entire House Democratic leadership and organized labor.

Bonior battles Clinton on China

One official said that while Gephardt intends to announce his opposition to the measure, he is not expected to join in a full-fledged effort to defeat it, a campaign being led in the House by the Democratic whip, Rep. David Bonior of Michigan.

MAKING THEIR OWN CHOICE Rather, the Missouri lawmaker likely will explain his position to fellow Democrats, and continue to urge the members of the rank-and-file to come to their own decision, this official added. In a recent speech, Gephardt emphasized support for several items on the high-tech industry?s agenda, but sidestepped the issue of trade with China. ?I understand your concerns,? he told a business group late last month. But he added that any legislation must provide ?the right incentives for China to move toward the rule of law, to protect both personal and property rights.? Hastert, R-Ill., recently announced a vote would be held on the bill the week of May 22. That was widely seen as a concession to Clinton and an enticement to wavering Democrats, who had feared that the GOP leadership would maneuver to postpone the roll call until closer to the fall elections, when the political danger to Democrats could be greater.
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