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Economics Report - US-China Trade: Calls for Reform
This is the VOA Special English Economics Report.
Last week, we told about a recent talk in Washington on trade ties between the United States and China. Former Secretary of the Treasury1 Henry Paulson spoke2 with Former National Security Advisor3 Steve Hadley. The two men talked about the recent slowdown in the Chinese economy and the need for more personal spending in China.
They also discussed the need for China to reform its state-owned companies. These companies often operate with low interest loans and a lot of help from the government.
Earlier this month, President Obama said China was creating “an unfair playing field” in its car industry.
In July, the Obama administration requested talks, or consultations4, at the World Trade Organization. The United States says China has unfairly placed more than three billion dollars in taxes on imports of American-made cars. Officials say increasing the price of imports helps Chinese carmakers.
Mister Paulson said Chinese government aid for state-owned companies, like oil companies and carmakers, will end up hurting China’s economy.
HENRY PAULSON: “The only way that the Chinese are going to be able to successfully make the transition that they’re going to need to make to an economy that’s much more efficient is by continuing to reform the state owned enterprises, have them compete on a level playing field without all the subsidies5 and the special benefits and if they don’t do that they’re not going to realize the full potential of the economy and they’re not going to make the transition that they need to make.”
Chinese exports to the United States remain strong. Demand for Chinese goods rose more than eleven percent in June, compared to the same period last year.
And China says total trade so far this year is nearly two trillion dollars. That is up eight percent. China’s strong imports have helped the country raise millions out of poverty.
These gains were noted6 at recent human rights talks between the United States and China. But, American officials say political reforms in China have been slow.
The head of the American delegation7, Assistant Secretary of State Michael Posner, spoke to reporters this week. He noted China’s economic gains.
But Mr. Posner said political reforms in the country have not kept up with its economic changes. He said the human rights situation in China continues to get worse.
MICHAEL POSNER: “Like people everywhere, Chinese people want to be treated with dignity. This means they seek economic opportunity and jobs. At the same time, they seek a lawful8 way to voice legitimate9 grievances10 and have a meaningful role in the political development of their own society.”
And that's the VOA Special English Economics Report. For transcripts11, MP3s and now PDFs of our programs for e-readers, go to www.voanews.cn. I’m Mario Ritter.
1 treasury | |
n.宝库;国库,金库;文库 | |
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2 spoke | |
n.(车轮的)辐条;轮辐;破坏某人的计划;阻挠某人的行动 v.讲,谈(speak的过去式);说;演说;从某种观点来说 | |
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3 advisor | |
n.顾问,指导老师,劝告者 | |
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4 consultations | |
n.磋商(会议)( consultation的名词复数 );商讨会;协商会;查找 | |
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5 subsidies | |
n.补贴,津贴,补助金( subsidy的名词复数 ) | |
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6 noted | |
adj.著名的,知名的 | |
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7 delegation | |
n.代表团;派遣 | |
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8 lawful | |
adj.法律许可的,守法的,合法的 | |
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9 legitimate | |
adj.合法的,合理的,合乎逻辑的;v.使合法 | |
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10 grievances | |
n.委屈( grievance的名词复数 );苦衷;不满;牢骚 | |
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11 transcripts | |
n.抄本( transcript的名词复数 );转写本;文字本;副本 | |
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