A Decade Later: China in the WTO, Part I.
Posted by jeckert on 06/18/2010
At a hearing before the U.S.-China Economic and Security Review Commission, Robert E. Lighthizer testified on the U.S. granting PNTR to China. According to Lighthizer: We now have ten years’ worth of data to show what happened after PNTR was approved. It is appropriate to consider whether the promises made at the time have been fulfilled. Unfortunately, the evidence demonstrates that they have not:
- The economic benefits promised by PNTR supporters have not materialized. In fact, the U.S. trade deficit with China almost tripled from 2000 to 2009, and millions of U.S. manufacturing jobs have been lost.
- China's commitment to the rule of law is very much in doubt, and the U.S. government continues to express major concerns about China's failure to respect U.S. IPR.
- Chinese mercantilism has had devastating effects on the U.S. economy.
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