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NEWS
October 13, 2005
Federal Reserve Chairman Alan Greenspan will be joining Treasury Secretary John W. Snow in Beijing next week, and the two lame ducks - the Fed chief's term is up next year and Mr. Snow is rumored on the way out next month - will try to head off a looming, potentially devastating trade war between the twin engines of world growth, the United States and China. China's failure to substantially revalue its currency against the dollar - an upward move of at least 25 percent is needed - prompts a Washington threat to formally label Beijing as a "currency manipulator."
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NEWS
September 11, 2012
During the recent Republican National Convention, the talking heads were all a twitter about Clint Eastwood's rambling speech and whether or not Rep. Paul Ryan lied about President Barack Obama's promise to save a GM plant in Wisconsin. We have now witnessed another choreographed extravaganza performed at the Democratic National Convention with more meaningless analyses by the beltway pundits. Rhetoric will not solve our problems, and neither party is willing to address the cruel reality that over the last 40 years we have allowed the nation's industrial base to be hollowed out to provide high corporate profits from foreign manufacturing by U.S. companies and low cost imported goods, which gave a temporary shot of economic adrenaline to the consumer economy.
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NEWS
February 28, 1995
On the surface, China gave the major concessions in the trade agreement with the United States that was negotiated just hours past the deadline. China has more than the U.S. to gain from good trade relations and more to lose from a trade war.The test will be the implementation, particularly in Chinese policing of copyright and patent protection, in coming years. This will be a measure not only of Chinese good will, but of Beijing's authority over the booming southeast. Both are suspect.The agreement was heralded when China knuckled under to a U.S. demand to close the Shenfei Laser and Optical System Co., which stamps out millions of pirated compact discs and videodiscs.
NEWS
By Peter Morici | October 10, 2011
The China currency bill is the most significant jobs bill Congress could pass. It enjoys the bipartisan support of nearly 80 Republican and Democratic senators, yet President Barack Obama and House Speaker John Boehner oppose it, illustrating that both are out of touch with the problems besetting the American economy. The nearly $600 billion trade deficit is destroying more American jobs than the mortgage crisis, too much business regulation and high health care costs combined.
BUSINESS
By Robert Benjamin and Robert Benjamin,Beijing Bureau | October 7, 1992
BEIJING -- Sino-American goodwill flowed like the Chinese wine at a formal dinner last night opening the Ford Motor Co.'s first office here, an office that will lead a major thrust into China by the U.S. carmaker.But behind the good spirits and heady expectations of profits there was a dark specter: the possibility of a nasty, mutually unprofitable trade war between the U.S. and China.The trade war could begin as early as this weekend with the formal end of a yearlong U.S. trade investigation into Chinese market-access barriers -- raising disputes yet to be resolved by long-running trade talks.
NEWS
November 10, 1992
The hated "Anglo-Saxons" cannot hope to impose a trade accord on a French government embroiled in domestic politics and quaking with fear that its coddled farmers might send in their tractors to tear up the Champs Elysees again. If a trans-Atlantic trade war is to be averted, it will require the tough intervention of the "continental" powers -- especially Germany.For starters, the French veto in decisions of the European Community must somehow be circumvented. It is France that sabotaged a soybean agreement with the United States last week, causing the Bush administration to threaten penalties against European white wine imports.
BUSINESS
By Gilbert A.Lewthwaite and Gilbert A.Lewthwaite,London Bureau of The Sun | November 14, 1990
LONDON -- Agriculture Secretary Clayton K. Yeutter accused the European Community yesterday of a "self-centered and timid" approach to agricultural reform that threatens to unleash a global trade war.Mr. Yeutter denied using "scare tactics" and said the Europeans are in for "a very rude awakening.""We will not, we cannot, stand idly by as our farmers lose international markets and their share in global prosperity because of unfair barriers to trade and indefensible internal supports," he said.
NEWS
By TRB | February 14, 1991
Washington. GI Joe comes back from the war feeling like a hero, only to find that some stay-at-home shirker has stolen his gal and his job. What the heck was he fighting for? When the Persian Gulf war is over, the whole country may sink into this kind of B-movie sulk when it looks around to discover that while we were liberating Kuwait, Japan was continuing its inexorable economic climb. That will surely generate renewed demands that we launch a few Patriots against incoming Japanese products.
NEWS
May 16, 1996
PRESIDENT CLINTON will not allow himself to be seen as soft on China's cheating on trade commitments during the election campaign. The trade war that continued building yesterday probably will be contained until November and resolved later. It has the virtue of being about genuine trade issues and not about other matters in dispute between two great countries.U.S. officials say that Chinese firms pirated U.S. music, films, books, software and patents to the annual tune of $2.3 billion in lost sales since China agreed in February 1995 to stop the practice.
NEWS
By Mark Matthews and Mark Matthews,Washington Bureau The New York Times contributed to this article | November 6, 1992
WASHINGTON -- The United States lobbed the first salvo yesterday in what some analysts fear could turn into a major trade war, slapping high tariffs on $300 million worth of European exports and threatening another $1.7 billion worth if that doesn't produce European concessions.The dispute that has been going on for years centers on European subsidies for various oil seeds which the United States says has resulted in a loss of more than $1 billion in sales to Europe. The latest round of talks to settle the dispute broke down in Chicago on Election Day.Yesterday's moves were aimed directly at the French with a 200 percent tariff on still white wines.
NEWS
November 15, 2005
In the summer of 1990, this newspaper ran a front-page story alerting readers that the U.S. trade deficit with China was rising fast. It had increased by 300 percent in the previous two years, and by the end of that year, China was poised to overtake Taiwan as America's second-largest deficit trading partner - next to Japan. What a difference 15 years make - a difference worth pondering as President Bush visits Beijing this week. In 1990, the growing Chinese trade surplus with the United States made news because for the first time it was about to top $10 billion a year.
NEWS
October 13, 2005
Federal Reserve Chairman Alan Greenspan will be joining Treasury Secretary John W. Snow in Beijing next week, and the two lame ducks - the Fed chief's term is up next year and Mr. Snow is rumored on the way out next month - will try to head off a looming, potentially devastating trade war between the twin engines of world growth, the United States and China. China's failure to substantially revalue its currency against the dollar - an upward move of at least 25 percent is needed - prompts a Washington threat to formally label Beijing as a "currency manipulator."
NEWS
March 7, 2004
PUT DOWN those blue pencils and slowly step away, the Treasury Department has told U.S. editors and publishers. Don't change that paragraph, that comma - unless it's one penned by an author from an approved country. Who are they trying to kid? Treasury's Office of Foreign Assets Control has sent letters out warning that copy from Iranian authors cannot be edited without permission from the department because Iran is under a U.S. trade embargo. Other embargoed countries include Cuba, North Korea and Sudan.
NEWS
By Elizabeth Economy and Adam Segal | December 11, 2003
THE WORD from Washington is that U.S.-China trade relations are back on course. Chinese Premier Wen Jiabao told a grateful President Bush that China would take steps to redress the growing trade deficit, now threatening to top $120 billion. But the question remains as to whether the two leaders have made real progress or merely papered over their differences. Trade disputes between the United States and China over textiles, televisions and iron fittings are quickly becoming a major irritant in the relationship.
BUSINESS
By Bill Atkinson and Lorraine Mirabella and Bill Atkinson and Lorraine Mirabella,SUN STAFF | December 5, 2003
President Bush moved yesterday, as expected, to lift tariffs designed to protect the U.S. steel industry from foreign competition. While the industry condemned the decision, some experts said steelmakers could thrive over the next several years without help from the tariffs, propelled by a strengthening economy, more efficient operations and a weakening dollar, which has made steel imports more costly. If the steel industry does thrive, it could take the sting out of yesterday's controversial decision and win Bush votes in pivotal steel-producing states as he wages his re-election campaign next year.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | October 31, 2003
Seeking to avoid the onset of what could turn into a trade war with China, Treasury Secretary John W. Snow told senators yesterday that Beijing is not manipulating its currency exchange rate to gain an unfair advantage over American manufacturers. But Snow immediately acknowledged that China did not meet the technical requirements established under Omnibus Trade and Competitiveness Act of 1988. Under the terms of the act, if the Treasury Department finds a country has been unfairly manipulating its currency, the administration must begin negotiations with the offending country to correct the problem.
NEWS
By NEW YORK TIMES NEWS SERVICE | May 19, 1996
WASHINGTON -- The United States took on China over pirating intellectual property for the first time in 1903, when trademarked foreign products first flowed out of Chinese factories. The Chinese figured that if they signed an agreement and ignored it, Washington would soon forget about the whole thing.They were right.Ninety-two years later, China's leaders signed another accord, this time promising to keep their hands off Winnie-the-Pooh videotapes and Windows 95 CD-ROMs.Then, figuring that some strategies work as well at the end of the century as they did in the beginning, they permitted all but a few of their illicit factories to keep generating hundreds of millions of dollars in profits for provincial officials, the military and the entrepreneurial elite.
NEWS
By Peter Hermann and Peter Hermann,SUN FOREIGN STAFF | March 31, 2003
GIZA PLATEAU, Egypt - The rambunctious schoolchildren were climbing over the ancient stones strewn in front of the Great Pyramids when Ahmed el-Sisi suddenly reared his horse in anger. "Foreigners are better than Egyptians," the 21-year-old tour guide yelled at the pack from atop his mount. Several local youths threw fistfuls of dirt at the horse - named Sham el-Asila, or "original son" - as it galloped away, kicking up a blinding swirl of dust. It has been a frustrating two weeks for the throngs of aggressive horse and camel hustlers who rely on tourists anxious for or suckered into a carnival-like desert ride around one of the world's oldest attractions.
BUSINESS
By Karen Hosler and William Patalon III and Karen Hosler and William Patalon III,SUN STAFF | June 23, 1999
WASHINGTON -- Under heavy pressure from the Clinton administration, the Senate easily derailed a quota bill yesterday designed to protect beleaguered U.S. steel producers from what they claim has been a flood of illegally low-priced imports.Voting 57 to 42, the Senate refused even to allow the House-passed measure to come up for a vote, effectively killing the legislation. Opponents echoed the administration line that setting quotas to help the steelmakers would hurt the rest of the U.S. economy, particularly agriculture, and possibly ignite a trade war."
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