Page 16 • Tuesday, November 16. 1999
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ORLD
China, U.S. sign breakthrough agreement
BEUING (AP) — After 13 years of
fitful talks and six days of grueling
bargaining, Chinese and U.S. nego
tiators signed a breakthrough agree
ment yesterday that would remove
trade barriers and clears the biggest
hurdle to China’s entry into the
World Tfade Organization (WTO).
The agreement obligates China to
cut tariffs an average of 23 percent
and promises greater access to the
relatively closed Chinese market for
U.S. banks, insurers, telecommuni
cations firms and Hollywood film ex
porters, according to a statement re
leased by the U.S. Embassy.
None of the terms will take effect
until China gains entry to the WTO
and most would be phased in over
five years or longer.
U.S. Trade Representative Char
lene Barshefsky and China’s foreign
trade minister, Shi Guangsheng,
signed the agreement. They then
shook hands and were joined in a
champagne toast by President Clin
ton’s special economics adviser.
Gene Sperling and Long Yongtu, Chi
na’s lead WTO negotiator.
Barshefsky then went to the
Communist Party leadership com
pound and met Chinese President
Jiang Zemin.
“Where there’s a will, there’s a
way,” Jiang told Barshefsky after the
signing.
In Ankara, TUrkey, Clinton said
the agreement was “a profoundly
important step” in relations between
Washington and Beijing and a boom
for the global economy. China’s ad
mission to the WTO has been a ma
jor foreign policy and economic goal
of the Clinton administration.
“In opening the economy of Chi
na, the agreement will create un
precedented opportunities for Amer
ican farmers, workers and
Trading with China China's 1998 balance of trade
Billions ol dollars
The U.S.-China trade deal signed
Monday will obligate Beijing to cut
tariffs and grant greater access to
China’s market.
China's trade with the U.S.
Billions ol dollars
$140.2
o
China's trade with the world
i. Netherlands.
12%
Taiwan
12%
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companies to compete successfully
in China’s market, while bringing in
creased prosperity to the people of
China,” Clinton said.
“This is a profound and historic
moment in U.S.-China relations,”
Barshefsky said.
China’s Shi called it a “win-win”
deal that was “mutually satisfactory
for both countries. ”
PORT-AU-PRINCE, Haiti (AP) —
Hurricane Lenny lost some strength
yesterday but threatened Haiti and
the Dominican Republic — where
the expected heavy downpours
could cause flooding.
The southern coasts of the two
countries that share the island of
Hispaniola were under a hurricane
watch, as were Puerto Rico and the
U.S. and British Virgin Islands.
Lenny passed south of Jamaica
yesterday, and a hurricane watch
there was canceled.
Noting the hurricane’s unusual
eastbound route, the U.S. National
Weather Service warned, “Do not
be fooled. This is a potentially very
serious situation.”
Meteorologist Ronnie Semexant
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of Haiti’s weather bureau said peo
ple on the south coast were being
asked to evacuate to higher ground.
“The land is already saturated
from heavy rains, meaning that
the slightest rain will cause
flooding,” Semexant said.
Even before Lenny arrived, po
lice said two toddlers were killed in
mudslides before dawn yesterday
in Santo Domingo, when saturated
earth collapsed onto mud houses in
shantytowns surrounding the city.
Lenny was moving east near
Wind gusts: 120ir?
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