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To: Clarksterh who wrote (24875)	3/24/1999 10:40:00 PM
From: nihil	Respond to of 152472

The principal problem is the option of entering as a less developed country with special concessions, delays in cutting tariffs, and other protective measures left in place, or as a full member which they can have any time they wish to play the world trade games on equal terms with developed countries. China, of course, wants it both ways -- all the advantages of membership and as few of the obligations as possible -- hence, the bargaining. No socialist country with extensive government investment in business and subsidies for these firms can be a conforming member of WTO. It is unreasonable to expect that China can eliminate its "unfair" practices in any reasonable time. Nevertheless, the U.S. and EU need to hold the line very tight and not grant China too many special privileges. I would prefer granting no more than three years to conform, but it will doubtless have to be more. For the U.S. there is nothing very important that it cannot import as cheaply somewhere else. With a huge trade deficit, the U.S. can hang very tough with China and lose no national advantage. American firms, of course, have different ends in view since they need to establish themselves, even at a loss, in China for the future.