Week of September, 2001

• INTERNATIONAL: China Approaches end of WTO Journey
• INTERNATIONAL: China Shocked at Terrorist Attacks.  Beijing Expresses Sympathy to the American People

 

China and Mexico did sign an accord on Thursday, thus removing one of the last hurdles China has had to overcome during its 15-year quest to join WTO.  Mexico mainly addressed its concerns over losing out in the consumer good industries, like footwear and textiles, from cheaper Chinese imports.  Anti-dumping measures have been put in place.

However, a final barrier between the EU, the United States, and China over insurance issues is still being negotiated.  The influential U.S. American Insurance Group Inc. (AIG) has argued that wording of the bilateral U.S.-China deal means it would have complete ownership over any new branches it might open in China.  But the EU, who are only able to hold 50 per cent of it equity in new operations, has argued if AIG received better operating conditions it would violate the most-favored nation principle.
 
 

Security around the US Embassy in Beijing was heightened with armed police making stringent identification checks and allowing only embassy cars and personnel through. U.S. Ambassador Clark Randt said in a statement that the embassy and its four consulates in Shanghai, Chengdu, Shenyang and Guangzhou would continue to function normally.  He said, “The people of the United States have faced tragedy in the past with courage and faith, we will face this current challenge with the same spirit.?

Among the 18 Chinese funded enterprises in the World Trade Center, 11 of them confirmed no casualties.  Five enterprises, however, still have not been made contact.  As of Wednesday, China’s Foreign Trade Minister stated that the fate of around 30 Chinese nationals was currently unknown.

Though the common sentiment vocalized in China has been to strongly condemn terrorism, Beijing and Washington, according to analysts, remain deeply divided over the definition of terrorism and the proper international standards used to retaliate against terrorist attacks.