Journal of Commerce

Despite the claims of advocates, permanent normal-trade-relations (NTR) status is only one element of a meaningful China policy. The changes in U.S. law and review procedures for China's behavior that are included in the proposal of Reps. Sander Levin, D-Mich., and Doug Bereuter, R-Neb., are at least as important to establishing a sound policy toward China as granting that country permanent NTR.

With relatively little notice, the United States has begun to implement one of the more important provisions of the Uruguay Round global trade agreement -- a provision calling for sunset reviews of anti-dumping cases.

Anti-dumping laws seek to block sales of imports in the U.S. market at below the price in their home market or below the cost of production. Sunset reviews seek to weed out anti-dumping orders that are no longer necessary.

Particularly in an election year, no one should be too surprised that political debates in Congress and on the election trail contain a fair bit of exaggeration and gilding of the lily. But the rhetoric on permanent normal- trade-relations status for China, however, threatens to set a new high-water mark for fibs and misinformation.

In the late 1980s and early 1990s, antitrust was widely seen as an antiquated topic, but things have changed dramatically in the last few years. Antitrust seems to be entering a new golden age.

The issues of granting China membership in the World Trade Organization and selling arms to Taiwan promise to generate many headlines over the next year. These issues, however, are linked in many ways that are not immediately apparent.

Assuming both China and Taiwan can join the global organization -- as both seek to do -- WTO membership could advance the cause of peace and stability in the Taiwan Straits as much as arms sales.

A wave of protesters attempting to disrupt the annual meetings of the World Bank and the International Monetary Fund was only the latest sign that the process of globalization has become immensely controversial.

Despite the many declarations of the inevitability and desirability of globalization, the actual process of globalization -- at least as measured through international institutions -- is likely to slow down or stop for the foreseeable future.

Just one year ago, the steel import crisis was the talk of Washington.

The House of Representatives had voted overwhelmingly to impose quotas on steel imports, and the Senate was preparing to vote on the same legislation. There was a definite atmosphere of urgency throughout Washington in responding to the crisis.

It seems hardly a day can go by without a news item on China's campaign for World Trade Organization membership and the closely related issue of the United States extending it permanent normal-trade-relations status.

China has reportedly decided it is committed to gaining WTO membership this year -- regardless of a U.S. congressional vote on permanent NTR. Europe continues its own negotiations with China on WTO membership.

Undeniably, there are deep social, cultural and economic ties between the United States and the European Union. In fact, most Americans are descended from immigrants who came from Europe.

Taiwan holds its national election for president Saturday. Although this should be heralded as one of the greatest U.S. foreign-policy victories in the post-Cold War world, it has as yet attracted relatively little attention in the United States.