Open up, Clinton tells China

SHANGHAI, July 1: United States President Bill Clinton called on China today to open its trade markets, and urged American investors in the ...

SHANGHAI, July 1: United States President Bill Clinton called on China today to open its trade markets, and urged American investors in the world8217;s largest country to help it battle huge environmental problems.

Addressing a breakfast gathering of US and Chinese business leaders in the booming financial district, Clinton said he could not, as President, ask China to adopt environmental standards that would slow economic growth. 8220;But as a citizen of the world and the leader of my country, I have a responsibility to ask us all to work together for a planet that our grandchildren can still enjoy living on,8221; he said, adding, 8220;and so do you.8221; He also urged American firms to set a good example on fair labour standards in China.

Clinton spoke to business leaders in the atrium of a high-rise hotel before touring Shanghai8217;s stock exchange, a shimmering symbol of China8217;s march toward a market economy. Clinton said China must agree to 8220;strong terms8221; to qualify for WTO membership.

8220;That would require openingmarkets and allowing investment opportunities here for foreign firms. The terms have to be clear and unambiguous,8221; the President said, adding that China should be granted some concessions as a developing nation. 8220;China8217;s economy still is burdened with complicated and overlapping barriers,8221; the President said.

8220;More open markets are important to the United States, which buys about a third of China8217;s exports and in turn should have a fair shot at China8217;s markets. It is important to China as it builds an economy that must compete globally.8221; Clinton also said that China will have to develop worker retraining and social security programs as it transforms its massive state-run industries into market-based companies.

There was a strong environmental message in Clinton8217;s remarks, noting that China will soon surpass the United States as the largest emitter of greenhouse gases that many scientists believe are responsible for global warming. Clinton said He also urged the business leader to press the USCongress to grant permanent Most-Favoured-Nation trading benefits for China, saying the United States could not turn its back on the world8217;s largest nation.