China wants to buy U.S. goods, eyes energy cooperation
China wants to buy U.S. goods, eyes energy cooperation
By Benjamin Kang Lim
Reuters
Tuesday, August 30, 2005; 7:17 AM
BEIJING (Reuters) - China is willing to buy more U.S. goods to reduce its trade surplus and is eyeing energy deals despite Congressional opposition to state-run CNOOC's bid for U.S. oil firm Unocal, officials said on Tuesday, days before President Hu Jintao's U.S. visit.
But Chinese Foreign Ministry officials urged the United States to stop selling advanced weapons to China's rival, Taiwan, and not to play politics with its human rights record.
President George W. Bush will host Hu on September 5-8, a visit that caps months of rising trade friction as well as growing cooperation on stopping North Korea's nuclear arms ambitions.
China revalued its currency by 2.1 percent last month, but U.S. lawmakers have said they want more of a revaluation to address a trade deficit with China that is on track to surpass last year's record $162 billion.
"We are willing to import more U.S. goods," He Yafei, director-general of the ministry's Department of North American Affairs, told a news conference.
"We hope the United States will ease curbs on exports to China, especially curbs on high-tech goods," He said. The restrictions were imposed after the Chinese army crushed the Tiananmen Square pro-democracy protests on June 4, 1989.
He described the U.S. trade deficit as "complementary," saying cheap Chinese goods saved American consumers $20 billion each year and rein in U.S. inflation.
STATE VISIT?
Washington has said Hu's trip falls short of a full state visit but the Chinese official insisted it was a state visit, albeit with no agreements being signed.
The first U.S. visit by Hu since he became president in 2003 follows a stormy summer in bilateral trade ties as China and America wrangle over energy, textiles, Chinese counterfeiting and China's exchange rate policies.
Congress also reacted with alarm when China's CNOOC tried to buy Unocal, which raised concerns about national security.
"It should be viewed as a commercial activity ... We hope (future energy cooperation) will not be mixed with political factors," He said.
"We have no intention of fighting against any country in the world for energy supplies."
Despite their differences, the two countries have cooperated on geopolitical issues, notably on six-party talks hosted by Beijing to try to defuse the crisis over North Korea's nuclear arms program.
Some analysts also credit Beijing and Washington for keeping the potential flashpoint of Taiwan quiet for much of this year.
"We hope the U.S. can see clearly that the situation in the Taiwan Strait is still extremely sensitive and extremely complicated," He said.
"We hope the United States can see clearly the danger and harm Taiwan independence activities may bring everybody," He said, adding that Washington should stop selling advanced weapons to Taiwan to avoid sending the wrong signal to separatists.
Beijing has claimed Taiwan as its own since their split at the end of the Chinese civil war in 1949 and vowed to attack if the self-ruled, democratic island formally declares statehood.
Hu is also scheduled to visit Canada from September 8-11 en route to Mexico from September 11-13. He will attend the annual gathering of world leaders at the U.N. General Assembly in New York from September 14-16 and stop over in Vancouver from September 16-17 on his way home.
By Benjamin Kang Lim
Reuters
Tuesday, August 30, 2005; 7:17 AM
BEIJING (Reuters) - China is willing to buy more U.S. goods to reduce its trade surplus and is eyeing energy deals despite Congressional opposition to state-run CNOOC's bid for U.S. oil firm Unocal, officials said on Tuesday, days before President Hu Jintao's U.S. visit.
But Chinese Foreign Ministry officials urged the United States to stop selling advanced weapons to China's rival, Taiwan, and not to play politics with its human rights record.
President George W. Bush will host Hu on September 5-8, a visit that caps months of rising trade friction as well as growing cooperation on stopping North Korea's nuclear arms ambitions.
China revalued its currency by 2.1 percent last month, but U.S. lawmakers have said they want more of a revaluation to address a trade deficit with China that is on track to surpass last year's record $162 billion.
"We are willing to import more U.S. goods," He Yafei, director-general of the ministry's Department of North American Affairs, told a news conference.
"We hope the United States will ease curbs on exports to China, especially curbs on high-tech goods," He said. The restrictions were imposed after the Chinese army crushed the Tiananmen Square pro-democracy protests on June 4, 1989.
He described the U.S. trade deficit as "complementary," saying cheap Chinese goods saved American consumers $20 billion each year and rein in U.S. inflation.
STATE VISIT?
Washington has said Hu's trip falls short of a full state visit but the Chinese official insisted it was a state visit, albeit with no agreements being signed.
The first U.S. visit by Hu since he became president in 2003 follows a stormy summer in bilateral trade ties as China and America wrangle over energy, textiles, Chinese counterfeiting and China's exchange rate policies.
Congress also reacted with alarm when China's CNOOC tried to buy Unocal, which raised concerns about national security.
"It should be viewed as a commercial activity ... We hope (future energy cooperation) will not be mixed with political factors," He said.
"We have no intention of fighting against any country in the world for energy supplies."
Despite their differences, the two countries have cooperated on geopolitical issues, notably on six-party talks hosted by Beijing to try to defuse the crisis over North Korea's nuclear arms program.
Some analysts also credit Beijing and Washington for keeping the potential flashpoint of Taiwan quiet for much of this year.
"We hope the U.S. can see clearly that the situation in the Taiwan Strait is still extremely sensitive and extremely complicated," He said.
"We hope the United States can see clearly the danger and harm Taiwan independence activities may bring everybody," He said, adding that Washington should stop selling advanced weapons to Taiwan to avoid sending the wrong signal to separatists.
Beijing has claimed Taiwan as its own since their split at the end of the Chinese civil war in 1949 and vowed to attack if the self-ruled, democratic island formally declares statehood.
Hu is also scheduled to visit Canada from September 8-11 en route to Mexico from September 11-13. He will attend the annual gathering of world leaders at the U.N. General Assembly in New York from September 14-16 and stop over in Vancouver from September 16-17 on his way home.
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