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To: Sully- who wrote (80359)9/14/2000 9:31:32 PM
From: Ruffian  Read Replies (1) | Respond to of 152472
 
Senate Set to Vote Sept 19 on China Trade
Bill

By Adam Entous

WASHINGTON (Reuters) - A landmark China trade bill that could
transform Sino-U.S. relations was on the brink of passage after the U.S.
Senate on Thursday rejected the final amendments and scheduled a Sept. 19
vote.

Senators said there was no longer any doubt legislation granting permanent
normal trade relations (PNTR) to China would pass by a large margin, in a
victory for President Clinton (news - web sites) and business groups eager to
tap the vast Chinese marketplace, potentially the world's largest with 1.3
billion consumers.

The last major hurdle was cleared on Wednesday when senators rejected a
controversial amendment to impose sanctions on China for its alleged role in
weapons proliferation.

The Senate went on to defeat the final six amendments on Thursday, ending a
two-week drive by Beijing's critics to scuttle the bill by amending it.

``It's a done deal,'' said Myron Brilliant, managing director for Asia at the
U.S. Chamber of Commerce.

Senators have agreed to six hours of closing debate before Tuesday's historic
vote on the legislation, which would bring an end to the annual ritual of
reviewing Beijing's trade status and guarantee Chinese goods the same
low-tariff access to the U.S. market as products from nearly every other
nation.

In exchange for the benefits, China has agreed to open a wide range of
markets to U.S. businesses under the terms of an agreement setting the stage
for Beijing to join the Geneva-based World Trade Organization (news - web
sites) (WTO) later this year.

Clinton has made passage of permanent normal trade relations for China a
top legislative priority for his final year in office.

The president's allies in the trade fight argued that it would benefit the U.S.
economy and national security by encouraging Beijing to open its markets
and eventually its political system.

Labor unions, a key Democratic constituency, warned that closer trade ties
could cost hundreds of thousands of American workers their jobs, as
Chinese goods flood the U.S. market and companies move their factories to
China to take advantage of lower wages.

A bitterly divided House of Representatives approved the legislation in May
after an unprecedented lobbying campaign by pro-trade business groups.

There was never much doubt about the outcome in the Senate, where
free-trade initiatives typically garner bipartisan support.

Sixty-nine senators said in a Reuters poll they would support permanent
normal trade relations, more than enough to override a vote-blocking
filibuster and ensure final passage in the 100-member chamber.

Nevertheless, a small but determined band of China critics mounted a
last-ditch offensive, offering amendments that would crackdown on Chinese
weapons sales and forced abortions, and call for Beijing to improve human
rights and labor standards.

The final amendment, by South Carolina Democrat Ernest Hollings, would
have limited U.S. Export-Import Bank financing in China. It was defeated by
voice vote.

If any of the amendments had been adopted, the China bill would have been
sent back to the House, where it stood little chance of passage so close to
the November election, congressional leaders said.

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Earlier Stories
U.S.-China Pact Edges Closer to Showdown Vote (September 12)
U.S.-China Pact Moves Closer to Senate Passage (September 12)
Senate Spars Over Chinese Arms Sales, Trade (September 11)
U.S.-China Trade Pact on Track for Final Passage (September 10)
Battle Brews in Senate Over Chinese Arms Sales (September 8)
Backers of US-China Trade Bill Confident of Victory (September 8)

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To: Sully- who wrote (80359)9/15/2000 1:40:56 AM
From: The Reaper  Read Replies (2) | Respond to of 152472
 
Someone correct me if I'm wrong but Korea with 26 million CDMA users is by far the largest Asian market. China and/or Japan with ten million is nowhere near Korea. This kind of factual error bothers me when I read articles about our beloved QCOM. Makes me wonder how factual the rest of the story is.... damn. I guess it's just got to be taken with a grain of salt since we're still talking about China and we've been down that road before.

kirby