A Quote by Vladimir Putin
As to our trade and economic relations with China, they are growing more and more diverse each day, something we have worked on for a long time with our partners from China.
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We Americans have an obligation to come to China, to learn more about China. Why? Because with each passing day, it's going to be more and more in our future.
During the 1999 debate over Permanent Normal Trade Relations with China President Bill Clinton said, 'In opening the economy of China, the agreement will create unprecedented opportunities for American farmers, workers and companies to compete successfully in China's market. WRONG: Our trade deficit with China has increased from $83 billion in 2001 to a record breaking $342 billion in 2014.
China is our largest trading partner in Asia. The normalization of our relations will create major opportunities for Norwegian businesses and for job creation. We also hope to resume negotiations on a free trade agreement with China.
Ronald Reagan, when he was campaigning for President, said that he would break relations with Communist China and re-establish diplomatic relations with Taiwan. But when he got into office, he pursued a very different policy of engagement with China and of increasing trade and business ties with China.
The sanctions have nothing to do with our relations with China, because our relations with the People's Republic of China are at an unprecedented high both in terms of their level and substance. They are what we call "a comprehensive partnership and strategic cooperation".
It is very important for our long-term economic future that the relationship with Japan, Korea and China, who are our three biggest trading partners, be ever stronger.
China are running trade deficits with the rest of the world. If you look at the U.S. trade deficit, it's close to $800 billion trade in goods. Half of that is with China, so it's a big part of the problem. And the problem with China, as opposed to, say, Canada, is that China cheats.
Now we characterise Russian-Chinese relations as a strategic partnership, even a special strategic partnership. We have never had such a level of trust with China before. China is our major trade and economic partner among foreign states. We implement joint multi-billion projects. We cooperate not only within the UN Security Council, which is logical, as both China and Russia are permanent members of the UN Security Council, but also within such regional organisations as the Shanghai Cooperation Organisation, BRICS, etc.
China is the big economic engine in Asia, so what happens is, as China growth expands, these countries in the periphery of China, whether it be Indonesia, Malaysia, Singapore, the Philippines, they end up growing with China because they become big exporters.
U.S. exports to China have more than quintupled since China entered the WTO and have grown more quickly than imports. In fact, China is America's fastest-growing export market.
The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years. China went into the World Trade Organization and agreed to play by certain rules. Instead, they are illegally subsidizing their exports, manipulating their currency, stealing all of our intellectual property, using sweatshops, using pollution havens. What happens is, our businesses and workers are playing that game with two hands tied behind their back.
In 2006, I became the fist American to be allowed to go visit their astronaut center in China in Beijing. I think that it makes sense for the U.S. to work with China in the future and I hope to see, if the political atmosphere between the United States and China allow for us to do more cooperation together, especially in the area of human space flight. I think in the same way that it's help improve the relations between the U.S. and Russia; it would help to improve the relations between the U.S. and China.
Sanctions have nothing to do with this [relations with the People's Republic of China]. The decline in our mutual trade has objective causes, which are the energy prices and the exchange rate difference. But the physical volumes have not decreased, quite the opposite actually. They are growing.
Americas largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner.
China's own recent history proves that when it opens itself, there is nothing its people cannot accomplish. A more open China will lead to a more prosperous and stable China. That's good for China, the United States and, indeed, the entire world.
China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.
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