Country of the Month: China

On November 14, 1999, Chinese and U.S. negotiators agreed on an historic trade deal after 13 years of trying. Two weeks later, Canada had negotiated its own agreement with China, Canada's fourth largest trading partner and a valuable market of 1.2 billion people. It committed China to reducing tariffs on imports of Canadian industrial products and liberalizing access into China's burgeoning services market, including telecommunications and financial services. China will also significantly improve access for many agricultural goods, including canola, canola oil, wheat, barley, and malt. These commitments will come into effect once China is admitted to the World Trade Organization (WTO) sometime next year.

The economy of China is in transition from a centrally controlled communist state to a more open and market-oriented society. The transformation will create many economic opportunities for Canadians, but it also raises important questions of how the new wealth and power in China will be distributed and used. The Russian example illustrates how dependent markets are on a strong government that is able to maintain law and order to function well. Power can flow as easily to criminals as to the people. There is also the human rights question. Will increased trade lead to increased development, and will that lead to a better recognition of basic human rights that is necessary to increase economic freedom?

One is reminded of the ancient Chinese saying (or curse): "May you live in interesting times." The Chinese people are!

Hotlinks:

www.dfait-maeci.gc.ca/china/menu-e.asp China Perspectives, part of Canada's Department of Foreign Affairs and International Trade site, is a portal to information on many aspects of China and its economy. In the left column, the Canada-China Relations link provides current information on both China and Hong Kong, and Other Useful Information and Links leads to other good sources. Best of all is Canada's Window on China, which has a rich selection of links—the China-Hong Kong Factbook is of particular note.

http://strategis.ic.gc.ca/sc_mrkti/ibinddc/engdoc/1a1f1.html This Industry Canada site will connect you with a list of files that deal with different aspects of China's economy.

www.ccbc.com/i-cwebsites.html The Canada China Business Council is a private sector, non-profit membership organization incorporated in 1978 to facilitate and promote trade and investment between Canada and the People's Republic of China. This link takes you to the Council's "top" recommendations for places to go for information on China."

www.moftec.gov.cn/ The Ministry of Foreign Trade and Economic Cooperation, PRC site provides data and information about China's economic connections with other countries around the world.

www.tdc.org.hk/main/china.htm#5 The Hong Kong Trade Development Council's profile on Mainland China's economy consists of current data and analysis under headings/links such as Current Economic Development, Major Economic Reforms, and Trade and Investment Policies.

www.chinaonline.com/default.asp ChinaOnline is a business information service that offers a single resource for understanding the business climate in China. It provides translated news from a wide variety of sources in China, original articles on business topics, and analysis.

www1.apecsec.org.sg/member/chinec_report.html The Asia-Pacific Economic Cooperation (APEC) assessment of China's overall economic performance for 1998 provides data, tables, and some analysis, including an assessment of major structural economic reforms that have been or are about to be launched. For information on Hong Kong, returned to Chinese control after the United Kingdom's lease expired in July 1997, see www1.apecsec.org.sg/member/hkec_report.html.

For U.S. sources of information about the economy of China see:

www.washingtonpost.com/wp-srv/inatl/longterm/worldref/country/china.htm This Washington Post site has good links to other U.S. and international sources of information including:

• CIA World Factbook—a detailed list of facts and figures on China
• U.S. State Department Notes—describe the history, government, politics, and economy of China.

For European sources of information see:

www.insidechina.com/ Inside China Today is an online daily news and information site produced the European Internet Network, which was launched in 1995 and is one of Europe's fastest-growing Internet publishing companies. Click on the SITE MAP link to find an index of links organized by topic.

Other sites of interest:

www.megastories.com/china/economy/economy.htm Out There News is a British news site with attitude that should appeal. Its accounts are brief but make their point (for example, China will account for more of the world's economy than the U.S. by 2010) and rely on reputable sources such as the International Monetary Fund (IMF). This site includes links to topics such as "The fall out on politics of economic reform?" and "Trade and human rights."

www.saturdaymarket.com/chinaveg/intro.htm This is a unique site! It offers a "photographic essay" in the form of an "annotated walk through the free markets also called farmers' markets in China." It promises that a walk through these markets will enable you to "begin to understand the massive changes that took place since 1985, after the government dismantled the People's Communes and decontrolled growing, distribution and retail sales of fresh produce."

www.economist.com/editorial/freeforall/library/index_surveys.html Here you will find The Economist's analysis of economic change in China, which appeared in its March 8, 1997 issue. This is one in its series entitled Country surveys.