April 14, 2002
China puts positive spin on growth to fellow Asian economies
China's official government newspaper 'The People's Daily' shows some sympathy to the perception that China's economic growth and increasing competitiveness may hurt it's smaller neighbours reliant on manufacturing exports. Today's piece argues that China's WTO Entry Offers More Opportunities for Asian Economies "...China will cut tariffs and non-tariff barriers and enact new laws and regulations to offer more opportunities to other Asian countries, said Sun Zhenyu, the first Chinese Ambassador to the WTO..." The argument focuses on the benefits that will accrue to China's opening up of their economy subsequent to WTO entry - supposedly enough to offset problems caused by increasing competition, especially in the low cost manufacture of goods for export. All South East Asian nations are concerned about losing competitiveness to China's much lower costs. Government spokesmen and economic analysts in Thailand very recently cited China's increasing competitiveness as a possible major factor in slowing Thailand's recovery.
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