Obama Promised To Monitor China'S Textile Imports

In the final stage of the US presidential election in 2008, trade with China became a major issue again, and both sides urged to adopt a tough policy on China's Asian economic giant.

In a letter released by NCTO in October 29th, Democratic candidate Obama vowed to deal with the discontent of the textile industry.

Obama said that China's huge trade surplus with the United States is a direct result of "manipulating the RMB exchange rate" and stressed that "China must change its policies, including exchange rate policies".

He believes that China's economy must rely less on exports and rely more on domestic demand to achieve growth.

He said he would try his best to use all diplomatic means to make China make the above changes.

Obama made the pledge to do everything possible to attract voters in North Carolina? The textile industry is still an important part of the state's economy. Local voters are very worried about China's competition.

He promised that China's textile exports to the United States should be closely monitored after the expiration of the textile import restrictions in China at the end of 2008.

He also promised to use trade remedy laws to protect industries threatened by unfair competition from overseas, such as textile producers.

Obama said he was especially aware of the trade plight faced by textile practitioners.

Over the years, the Bush administration has refused to officially announce China's manipulation of the RMB exchange rate, but the Bush administration has also made some achievements in the Chinese government's appreciation of the renminbi.

In the camp of Republican candidate Mccain, senior economist Hotz asked Mccain to have rich experience and realize that the relationship with China should not be simply attributed to the RMB exchange rate.

Hotz Yi Jin said that Mccain tends to compete with China on a series of issues such as international economic agreements.

Previously, Republican Senator Elizabeth Dole also tried to highlight his trade qualifications before the election.

In mid September, Dole, who was in an unexpected and difficult situation in seeking re-election, sent a letter to the White House, urging the government to take action to ensure that textile manufacturers and workers in the United States will not be harmed after the Chinese textile import restrictions expire.

She accused China of adding subsidies to textile producers.

Bush Susan, Schwab's trade representative, said the US government has intensified its research on this issue.

In a letter to Dole last week, Schwab said that the US side had already taken note of the Chinese side's concerns about the unfair subsidies made by Chinese textile producers.

Schwab said she had sent a letter to China's minister of Commerce, expressing concern about China's possible violation of WTO agreements, and warned that if the Chinese side did not take immediate action to cancel such subsidies, the United States would consider complaining to WTO.

Yang Jing: editor in charge