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

To: RealMuLan who wrote (1859)	12/10/2003 12:41:11 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China pleased by Bush but concessions unlikely Reuters, 12.10.03, 3:46 AM ET By Edwin Chan SHANGHAI, Dec 10 (Reuters) - U.S. President George W. Bush's blunt talk on Taiwan may open some doors for American firms doing business in China, but executives and analysts say they expect to find little under the Christmas tree from Beijing in return. Seldom has China been likened to Santa Claus. But on the face of it, now may be a good time to tease gifts out of a country in a festive mood after the key concession by the Bush administration. Bush's tough warning to Taiwan against changing the status quo with China delighted visiting Chinese Premier Wen Jiabao, who was sitting alongside as the U.S. president delivered his comments. U.S. industry -- which has complained of slow liberalisation of China's banking, insurance, agriculture and telecommunications sectors -- can now conceivably seek some sort of quid pro quo, legal experts and executives said. Executives said banks could press harder on lowering sky-high per-branch capital requirements of 500 million yuan ($60.5 million), while insurers might push for the opening of more cities to foreign players. Others were sceptical whether the new bonhomie between Washington and Beijing would translate into concrete economic benefits -- particularly with tensions simmering over U.S. quotas on imports of Chinese textiles and tariffs on televisions. forbes.com