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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1063)	10/21/2003 1:17:30 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

“The Power of China” Overwhelms the U.S. OCTOBER 21, 2003 22:59 At the Asia-Pacific Economic Cooperation (APEC) summit that ended on October 21, major foreign news agencies and diplomats said that they reaffirmed the trend that the 50 years-long U.S. dominance over the Asia region has waned, and China is rising as a new political and economic power in the region. The mood was delivered by a symbolic event in which Chinese President Hu Jintao received a great welcome at the dinner party held by Thai King Bhumibol Adulyadej, meanwhile the U.S. president George W. Bush was not invited to the party. The U.S. was also put in an isolated ambiance when the Pacific Rim leaders opposed to its pressing suggestion of revaluating the Chinese currency, yuan. This mood is crucially related to the fact that Asian countries’ trading volumes with China surpassed the counterpart with the United States. Among China’s top ten trading partners except the European Union, nine countries are members of APEC. And, the Association of Southeast Asian Nations tops the fifth rank on its major trading partner list. The two U.S. allies in Asia, Korea and Japan, are reckoned the biggest benefit recipients of the economic growth of China. Last year Japan’s imports volume from China exceeded the counterpart over the United States, and the export volume also increased 39.3 percent over the same period. For Korea, its largest trading partner changed to China from the U.S.. The chairman of the international resorts chain, the Banyan Tree Hotels and Resorts, said, “It is believed that China is trying to do its best to help and reconcile its neighboring countries, on the contrary, the United States emphasizes its own diplomatic issues.” These moods are also related to the complaints by seven ASEAN members that had an unofficial meeting during their annual summit. The members expressed their unpleasant discontent that APEC was out of its original track of discussing economic issues but changed into a political unit that focuses on terrorism by the U.S.’s influence. Mr. Bush’s impromptu utterances played negatives roles, too. He earned criticism from many Asian nations by his commending words of Australia as “the sheriff of Asia” when he visited Australia before he kicked off his official schedule to APEC summit and a tour of Asian countries. Adding to that on October 29, he was also criticized as doing “diplomatic discourtesy” with his critique to Malaysia`s prime minister’s anti-Semitic comment by wording “wrong and divisive” to the minister Mahathir Mohamad out of the earshot of the other 19 leaders. On the other hand the New York Times reported that “the most amicable U.S. –China relationship since President Nixon’s visit to Beijing in 1972” provided the cause of that mood. Now each Asian country can develop a good relationship with China without being examined whether they are “standing for the United States or China.” “The comment that Asia is now remapped ‘centering China’ is right, but it’s correct to say that China is sharing ‘co-dominant power’ with the United States rather than replacing the U.S.’s leadership in Asia,” analyzed David L. Shambaugh, a professor form George Washington University, the United States. english.donga.com