From Business Week, via MSNBC (link):
To some corporate executives and China-watchers, Portman’s comments heralded a new, tough stance on the part of the Bush Administration that, if not handled carefully, could set off a trade war that ultimately could damage both American companies and the U.S. economy.
But the reality of the situation is far less confrontational. Rather than marking a new get-tough strategy, Portman’s review reflected a continuation of a yearlong effort by top Bush Administration officials to prod China to cooperate on economic matters, and to convince the U.S. Congress to avoid extreme Beijing-bashing legislation that could prompt retaliatory action by China and WTO complaints against the U.S.
To some corporate executives and China-watchers, Portman’s comments heralded a new, tough stance on the part of the Bush Administration that, if not handled carefully, could set off a trade war that ultimately could damage both American companies and the U.S. economy.
“NO FUNDAMENTAL SHIFT.”
But the reality of the situation is far less confrontational. Rather than marking a new get-tough strategy, Portman’s review reflected a continuation of a yearlong effort by top Bush Administration officials to prod China to cooperate on economic matters, and to convince the U.S. Congress to avoid extreme Beijing-bashing legislation that could prompt retaliatory action by China and WTO complaints against the U.S.
