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Technology Stocks : LORAL -- Political Discussion

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To: Bill who wrote (373)	6/1/1998 1:16:00 PM
From: peter a. pedroli	Read Replies (1) of 880

China tech debate could affect MFN status Mon Jun 01 11:56:21 1998 WASHINGTON (AP) -- White House officials fear the latest controversy over U.S.-Chinese relations could spill over into another area: the upcoming debate in Congress about renewing most favored nation (MFN) trade status for China. Trade experts say President Clinton may face an embarrassing uphill fight or even a defeat on MFN because of the contentious climate created by the allegations that: China tried to buy influence through illegal U.S. campaign contributions. China gained high-tech secrets after Clinton allowed a U.S. company, Loral Space & Communications, (LOR) with strong Democratic ties -- and already under investigation by the Justice Department -- to use a Chinese rocket to launch a satellite. For the first time, Republican congressional leaders are saying they might vote against MFN for China.

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