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[March 7th, 2012] Voices & Votes - China's role in solving Europe's debt crisis, US House's renewed tariff bill on China

03-07-2012 21:07 BJT Special Report: 2012 NPC & CPPCC Sessions |

Host: Yang Rui

Guest speakers:

- Li Yong, vice chairman of the China Association of International Trade

- Joerg Wuttke, Former President of the EU Chamber of Commerce in China

- Duncan Freeman, Senior Research Fellow from the Brussels Institute of Contemporary Chinese Studies

- Ted Dean, Chairman of the American Chamber of Commerce in China

- Tao Wenzhao, a Research Fellow at the Institute of American Studies at the Chinese Academy of Social Sciences

China outlines measures to boost foreign trade growth





Part 1: On today’s press conference

It comes as no surprise that China’s forex reserves are declining due to adverse overseas demand. But our foreign trade still accounts for one fourth of the world’s total. China needs to further diversify its portfolio of foreign exchange reserves. In his state of the nation address, Premier Wen Jiabao urges Chinese investment to go global at a time when Europeans look to China for debt relief. Europe has become China’s first and foremost destination of trade as nail-biting negotiations continue between the two sides to ensure the success of China’s merger and acquisition moves. Will the Chinese approach help create jobs in the US and mitigate the impact of the sovereign debt crisis in Europe? <Watch Video>

Part 2: China’s role in solving Europe’s debt crisis

The European Union’s sovereign debt crisis does not only concern the eurozone. It’s also a matter closely followed by representatives attending the annual session of the NPC and the CPPCC. Chinese leaders have expressed their willingness to guide China into playing a bigger role in helping debt ridden EU countries. <Watch Video>

Part 3: US House approves renewed tariff bill on China

The U.S. House of Representatives has just passed a controversial bill allowing the government to impose countervailing duties on imports from China. Those backing the bill say it will save tens of thousands of U.S. jobs. However, even in the U.S. not everyone agrees. The Financial Times quotes a study conducted by the Boston Consulting Group released in October, saying rising labor costs in China could contribute 3 million jobs in the U.S. by 2020. China is obviously disappointed by the approval of this bill. Chen Deming says, with this bill "the U.S. has been pointing fingers" at China. It urges the U.S. government to abide by its commitment against protectionism and maintain a free, open and just international trade environment. <Watch Video>

Part 4: Media Watch

Now comes the time for our daily look across the Internet, to see what netizens and other media have to say about the on-going NPC and CPPCC sessions. Li Kefu joins us for today’s "Media Watch." <Watch Video>

Editor:James |Source: CNTV

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