Thought this item from Dean Baker's 2/21/00 /Economic Reporting Review/
might interest some of you. As I've mentioned in the past, Baker reads and
comments on reportage on economic issues that appears in the /Washington
Post/ and /New York Times/.
"Business, Labor Pressure Congress on China's Trade Status"
Helen Dewar and John Burgess
Washington Post, February 14, 2000, Page A2
This article discusses the anticipated battle in Congress over
granting China "normal trading relations" status on a
permanent basis. This status would position the United States
to carry through trade based on the conditions China had
agreed to in order to join the WTO.
An one point the article notes the constituencies that stand to
gain from this move. It lists farmers, along with several major
industries, as among the groups that could reap "huge
economic benefits" from China's admission to the WTO. The
only way farmers would benefit from China's new status is if
its purchases of U.S. exports had the effect of raising the world
price of food and other agricultural products. It is questionable
whether China's additional purchases as a result of this
agreement will be large enough to have a significant effect on
world prices. However, if they do lead to significantly higher
prices, then the implication is that consumers in the United
States stand to pay considerably more for food as a result of
Dean Baker is an economist and the co-director of the Center
for Economics and Policy Research (CEPR). His latest book
(co-authored with Mark Weisbrot) is Social Security: The
Phony Crisis (University of Chicago Press). ERR is a joint
project of FAIR and CEPR.
ERR is edited by Jim Naureckas.
Recent articles can be found on the websites of the New York
Times and Washington Post.FAIR's critique of these outlets
can be found at http://www.fair.org/media-outlets/nyt.html and
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