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To: TobagoJack who wrote (57026)	12/7/2004 9:25:32 PM
From: LLCF	Respond to of 74559

Supposedly there is some long term support in the $US around here somewhere. Perhaps a Holiday rally [or flat line?]? DAK

To: TobagoJack who wrote (57026)	12/8/2004 7:28:49 AM
From: elmatador	Read Replies (2) \| Respond to of 74559

EU Holds Out Prospect of End to China Arms Embargo (China promises to buy airplanes and locomotives in return) Wed Dec 8, 2004 05:40 AM ET Printer Friendly \| Email Article \| Reprints \| RSS (Page 1 of 2) By John Chalmers THE HAGUE (Reuters) - The EU told China on Wednesday it was not yet ready to end its 15-year-old ban on selling it arms, but suggested the embargo could be lifted in early 2005 despite opposition from human rights groups and Washington. Imposed after Beijing's bloody crackdown on pro-democracy protestors in Tiananmen Square in 1989, the embargo on arms sales was expected to take center stage at a European Union-China summit in the Netherlands. But the agenda also included the prospect of China gaining dominance of the world textiles and clothing market after quotas are scrapped at the end of this month, and the EU's drive for an agreement on readmitting illegal Chinese immigrants. Dutch Foreign Minister Bernard Bot, whose country is currently president of the 25-nation EU, said he hoped the arms ban would be lifted next year. "We are working assiduously but... the time is not right to lift the embargo," Bot told reporters as he went into the talks with Premier Wen Jiabao and four Chinese ministers. EU foreign policy chief Javier Solana told France's Europe 1 radio that he hoped for a decision on the embargo soon and suggested that it could come at the bloc's summit next March. The United States, which sees China as a long-term strategic rival, has lobbied the EU against lifting the ban, citing a potential threat to Taiwan and to U.S. interests in Asia. But France has led a drive to scrap the embargo, which could open up lucrative trade opportunities with the world's fastest-growing major economy. The EU's trade deficit with China stood at 64.2 billion euros ($86.34 billion) in 2003. Human Rights Watch said in a statement ahead of the summit that the EU should not let "business interests trump its longstanding proclaimed commitment to human rights in China." "China's army turned its guns on its own people (in Tiananmen Square) after receiving orders from the political leadership," the rights watchdog said. "If the ban is lifted, the next attack could be with weapons supplied by EU states." The EU's executive Commission, along with Britain and Sweden, say Beijing must demonstrate progress on human rights. They also want a new EU code of conduct on arms exports to ensure greater transparency and to ensure that equipment sold is not used in domestic repression or regional conflicts. Officials say the new rule book is likely to be agreed this month. CHINA'S ECONOMIC POWER Continued ... reuters.com