Export barriers "disastrous to firms"
发布时间:2007-03-15 作者: 来源:
Raising tariffs on Chinese exports or revoking "normal trade relations" will only damage the healthy Sino-US trade relationship, he told a press briefing on the sidelines of the annual session of the National People's Congress.
"Our trade relationship has been mutually beneficial and that's why it can grow," he said.
China registered a $144 billion surplus with the US in 2006, but a large share of it was from goods made by US-invested companies in China and sold in the United States.
If the US surplus in services trade is factored in, "Chinese and American interests in trade are balanced," Bo said. "We should not underestimate the wisdom of American business people. If they could not make money doing business with China, they would not have been doing it."
With the trade deficit at historic highs, some US lawmakers have renewed efforts to press China to radically revalue its currency and proposed punitive measures should China not meet their requirement on exchange rate adjustment.
Such steps would be completely against the principles of the World Trade Organization, Bo said. "If they adopted such a policy, that would not only be protectionism but also trade hegemonism."
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