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To: allen v.w. who wrote (17212)	4/26/1999 12:39:00 PM
From: allen v.w.	Respond to of 40688

A little read on CHINA and WTO. China Resumes WTO Talks With U.S. BEIJING, Apr. 26, 1999 -- (Reuters) China resumed negotiations with the United States on Monday in a bid to close a World Trade Organization (WTO) deal and facilitate similar talks with other countries, state media and a source close to the talks said. Earlier on Monday, Chinese and European Union negotiators began a week of talks ahead of a visit to Beijing in May by EU Trade Commissioner Sir Leon Brittan, the state-run Xinhua news agency reported. It also said Long Yongtu, China's chief WTO negotiator, resumed talks with a four-member U.S. delegation headed by Assistant Trade Representative Robert Cassidy. On Friday, Xinhua had said two days of negotiations with the United States had ended with "no obvious result". It said Washington was "too demanding". Cassidy had been scheduled to leave on Sunday. A source familiar with the talks said Washington and Beijing had signed an agreement that China would not roll back concessions it had already made. If confirmed, that would lift a huge worry off the shoulders of many American businessmen who fret that the major concessions Premier Zhu Rongji made to win a deal during his visit to Washington earlier this month might be reversed. They could also take some comfort from comments of WTO Director-General Renato Ruggiero, who told the International Herald Tribune in an interview published on Monday that he believed China could join the body before November. He said he had detected "many encouraging signs" since Zhu met U.S. President Bill Clinton in early April. Clinton is thought to have balked at the last minute after talks with Zhu because he thought the anti-China mood in Congress, soured by human rights issues and nuclear spying charges, meant it would not agree to the deal. But now the two sides were eager to clinch agreement before June, when Congress has its annual vote to renew China's Normal Trade Relations status, the source said. That would allow a simultaneous vote to make the status permanent, as required by WTO rules, instead of having to fight two battles with Congress, he said. China and the United States had agreed they would conclude negotiations before Beijing wrapped up talks with others, the source said. If China failed to make it into the WTO, its reforms and market opening would continue but without the same urgency, he said. Outstanding issues included the audio-visual, banking and securities sectors and automobile financing, the source said. In the talks with Europe, Long, a vice minister of foreign trade, held a one-hour session in Beijing with the EU delegation, Xinhua said. More than 10 members of the EU delegation took part in two group discussions, one on tariffs on industrial and agricultural products and the other on service trade, it said. The negotiations with the EU would focus on the service and commodity trades, Xinhua quoted the Foreign Trade Ministry as saying. China and the EU had reached agreement on the procedure and contents of the negotiations, it said, without elaborating. The tough negotiations with Washington made the EU task easier. "After having seen what they have been able to offer to the Americans, of course that very much facilitates negotiations," said another source close to the talks. Brittan is scheduled to arrive in Beijing on May 5 for a two-day visit to announce a deal that would pave China's way into the world trade body, according to an EU diplomat. US$ = HK$7.7500, 8.2784 yuan, T$32.7500, 0.9427 Euro ( (c) 1999 Reuters)

To: allen v.w. who wrote (17212)	4/26/1999 12:39:00 PM
From: Warren A. Wilbur, Jr.	Read Replies (1) \| Respond to of 40688

*My two cents : Folks, I had a long discussion with Terri after the IBE . What I have learned is that the future looks very good. Not all was posted, some was posted by Todd (the Emails). There are going to be even more sources of revenue than we have initially thought of, the stock will be in a nice neighborhood with great next door neighbors.<G> 'Nuf said, IMO smart money is accumulating . Good day !

To: allen v.w. who wrote (17212)	4/26/1999 12:41:00 PM
From: allen v.w.	Read Replies (1) \| Respond to of 40688

A little more read. WTO Chief: China Can Join Us By November GENEVA, Apr. 26, 1999 -- (Reuters) The head of the World Trade Organization said in an interview published on Monday he believed China could join the body before November. Director-General Renato Ruggiero told the International Herald Tribune he had detected "encouraging signs" since a recent visit to Washington by Chinese premier Zhu Rongji. "I think that since the visit by China's prime minister there have been many encouraging signs and I believe we can have China in the WTO by November, when the WTO begins its next trade round in agriculture, services and electronic commerce," he told the newspaper's Monday edition. Ruggiero's comments were published as Chinese and European Union negotiators began talks on Monday in Beijing over China's application to join the Geneva-based organization. The Chinese premier just failed to clinch a deal with the United States during talks with President Bill Clinton earlier this month. Ruggiero's comments may cheer Chinese leaders but the Italian's role in any entry process will probably soon be marginal at best. He is due to step down from the director-general's position at the end of this week. WTO member states have not yet agreed who should take over from Ruggiero in the post. The two remaining candidates are Mike Moore of New Zealand, a former prime minister, and Thai Deputy Prime Minister Supachai Panitchpakdi. "Governments have to find a solution. It would be very damaging if a solution is not found. We need a new D-G as soon as possible," Ruggiero told the Tribune, also stressing he would not agree to stay on any longer in the post. Ruggiero did not specify what he saw as "encouraging signs" in China's application to join the WTO. Zhu had made dramatic market-opening concessions in the hope of clinching a deal in Washington. The U.S. has said it hopes to find an agreement to get China into the WTO this year. Though Zhu's concessions in Washington were not enough to convince the United States immediately, analysts say they could at least be making gaining EU support easier. EU Trade Commissioner Sir Leon Brittan is scheduled to arrive in Beijing on May 5 for a two-day visit to announce a deal that would pave China's way into the world trade body, an EU diplomat has said. US$ = HK$7.7500, 8.2784 yuan, T$32.7500, 0.9427 Euro ( (c) 1999 Reuters) <<- Previous article \|\| Next article ->>