Adding new dimensions to the U.S. - China trade relationship: achievements of the recent summit - June 1998

Business America, July, 1998 by Donald R. Forest

Secretary Daley urged all his Chinese counterparts during the President's visit to ensure greater market access for U.S. exports and to maintain more open markets as China intensifies reforms. He assured Amcham audiences throughout his visit that it is time for China to push ahead with reforms that will open more of China's markets to American exporters. Secretary Daley met with a number of China's senior economic leaders, including State Councilor Wu Yi, China's Minister of Foreign Trade and Economic Cooperation (MOFTEC) Shi Guangsheng, Minister of Information Industries Wu Jichuan, Chairman of the People's Bank of China Dai Xianglong, and Chairman of the State Development Planning Commission Zeng Peiyan. Secretary Daley will host MOFTEC Minister Shi for the 12th session of the JCCT in the early fall of this year, possibly late September or early October.

One of the highlights of the Secretary's visit was his participation in ceremonies at Beijing University recognizing the establishment of the first non-Chinese MBA program in Beijing (supported by a consortium of 26 U.S.-based Jesuit universities) and his remarks at Jiaotong University in Shanghai, President Jiang's alma mater. At both events, he emphasized the vital role which education plays and will continue to play in China's development and further opening to the world, particularly as it intensifies domestic economic reforms. He also highlighted how the Internet has changed the face of global communications and will in turn change the way in which citizens of all nations, including China, view, understand, and act on issues. The Secretary participated in several Internet demonstrations during his visit, including one in Xian which included a telemedicine diagnostic demonstration facilitated by the Internet. He also visited an "Internet Cafe" with President Clinton.

Secretary Daley witnessed the signing of contracts totaling more than $1.6 billion for U.S. companies, including $500 million in U.S. aircraft sales and project awards in medical technologies, energy, environment, and telecommunications. He represented EPA Administrator Carol Browner for the signing of an urban air quality monitoring project in cooperation with China's State Environmental Protection Administration. These exports, from large and small firms alike and programs of technical assistance, represent new jobs in the United States, as well as efforts to deepen mutual cooperation in areas critical to China's future economic development and well-being.