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United States-China Economic Relations and China’S Role in the Global Economy

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United States-China Economic Relations and China’S Role in the Global Economy UNITED STATES-CHINA ECONOMIC RELATIONS AND CHINA’S ROLE IN THE GLOBAL ECONOMY HEARING BEFORE THE COMMITTEE ON WAYS AND MEANS U.S. HOUSE OF REPRESENTATIVES ONE HUNDRED EIGHTH CONGRESS FIRST SESSION OCTOBER 30 AND 31, 2003 Serial No. 108–22 Printed for the use of the Committee on Ways and Means ( U.S. GOVERNMENT PRINTING OFFICE 92–208 WASHINGTON : 2004 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2250 Mail: Stop SSOP, Washington, DC 20402–0001 VerDate mar 24 2004 06:30 Apr 14, 2004 Jkt 092208 PO 00000 Frm 00001 Fmt 5011 Sfmt 5011 E:\HR\OC\92208.XXX 92208 COMMITTEE ON WAYS AND MEANS BILL THOMAS, California, Chairman PHILIP M. CRANE, Illinois CHARLES B. RANGEL, New York E. CLAY SHAW, JR., Florida FORTNEY PETE STARK, California NANCY L. JOHNSON, Connecticut ROBERT T. MATSUI, California AMO HOUGHTON, New York SANDER M. LEVIN, Michigan WALLY HERGER, California BENJAMIN L. CARDIN, Maryland JIM MCCRERY, Louisiana JIM MCDERMOTT, Washington DAVE CAMP, Michigan GERALD D. KLECZKA, Wisconsin JIM RAMSTAD, Minnesota JOHN LEWIS, Georgia JIM NUSSLE, Iowa RICHARD E. NEAL, Massachusetts SAM JOHNSON, Texas MICHAEL R. MCNULTY, New York JENNIFER DUNN, Washington WILLIAM J. JEFFERSON, Louisiana MAC COLLINS, Georgia JOHN S. TANNER, Tennessee ROB PORTMAN, Ohio XAVIER BECERRA, California PHIL ENGLISH, Pennsylvania LLOYD DOGGETT, Texas J.D. HAYWORTH, Arizona EARL POMEROY, North Dakota JERRY WELLER, Illinois MAX SANDLIN, Texas KENNY C. HULSHOF, Missouri STEPHANIE TUBBS JONES, Ohio SCOTT MCINNIS, Colorado RON LEWIS, Kentucky MARK FOLEY, Florida KEVIN BRADY, Texas PAUL RYAN, Wisconsin ERIC CANTOR, Virginia Allison H. Giles, Chief of Staff Janice Mays, Minority Chief Counsel Pursuant to clause 2(e)(4) of Rule XI of the Rules of the House, public hearing records of the Committee on Ways and Means are also published in electronic form. The printed hearing record remains the official version. Because electronic submissions are used to prepare both printed and electronic versions of the hearing record, the process of converting between various electronic formats may introduce unintentional errors or omissions. Such occur- rences are inherent in the current publication process and should diminish as the process is further refined. ii VerDate mar 24 2004 06:30 Apr 14, 2004 Jkt 092208 PO 00000 Frm 00002 Fmt 0486 Sfmt 0486 E:\HR\OC\92208.XXX 92208 C O N T E N T S Page Advisories announcing the hearing ........................................................................ 2 WITNESSES U.S. Department of the Treasury, Hon. John B. Taylor, Under Secretary of Treasury for International Affairs .................................................................. 11 Council of Economic Advisers, N. Gregory Mankiw, Ph.D., Chairman ............... 16 Office of the U.S. Trade Representative, Hon. Josette Sheeran Shiner, Deputy U.S. Trade Representative .................................................................................. 23 Congressional Budget Office, Douglas Holtz-Eakin, Ph.D., Director .................. 51 U.S. General Accounting Office, Loren Yager, Ph.D., Director, International Affairs and Trade ................................................................................................. 75 United States International Trade Commission, Robert A. Rogowsky, Ph.D., Director of Operations ......................................................................................... 83 Alticor, Inc., Douglas L. DeVos ............................................................................... 108 American Farm Bureau Federation, Charles E. Kruse ........................................ 130 American Federation of Labor and Congress of Industrial Organizations, Richard M. Trumka ............................................................................................. 193 Atkins & Pearce, Inc., Jeb Head ............................................................................ 179 Denim North America, Larry L. Galbraith ........................................................... 176 DeVos, Douglas L., Alticor, Inc. .............................................................................. 108 Galbraith, Larry L., Denim North America .......................................................... 176 Head, Jeb, Atkins & Pearce, Inc. ........................................................................... 179 Intel Corporation, James W. Jarrett ...................................................................... 123 Kruse, Charles E., Missouri Farm Bureau Federation, and American Farm Bureau Federation ............................................................................................... 130 Mack Northern Operations, Mack Molding Company, Jeff Somple .................... 189 Malpass, David R., Bear Stearns ........................................................................... 114 Missouri Farm Bureau Federation, Charles E. Kruse ......................................... 130 National Electrical Manufacturers Association, Malcolm O’Hagan .................... 127 Recording Industry Association of America, Joseph Papovich ............................. 141 Somple, Jeff, Mack Northern Operations, Mack Molding Company ................... 189 Trumka, Richard M., American Federation of Labor and Congress of Indus- trial Organizations ............................................................................................... 193 SUBMISSIONS FOR THE RECORD AdvaMed, statement ................................................................................................ 219 American Council of Life Insurers, Brad Smith, statement ................................ 221 American Iron and Steel Institute, statement ...................................................... 226 Carus Chemical Company, Peru, IL, statement ................................................... 230 Cato Institute, Daniel T. Griswold, statement and attachments ........................ 234 Customs Bond Committee of the American Surety Association, statement ....... 238 Five Rivers Electronic Innovations, LLC, Greeneville, TN, Tom Hopson, state- ment ...................................................................................................................... 240 Franc, Michael, Heritage Foundation, letter and attachment ............................. 242 Griswold, Daniel T., Cato Institute, statement and attachments ....................... 234 Heritage Foundation, Michael Franc, letter and attachment .............................. 242 Hopson, Tom, Five Rivers Electronic Innovations, LLC, Greeneville, TN, statement .............................................................................................................. 240 Hunt, Leo and Jean, Naples, FL, statement ......................................................... 244 International Mass Retail Association, Arlington, VA, statement ...................... 244 Manufacturers’ Association of Northwest Pennsylvania, Erie, PA, Ralph J. Pontillo, statement ............................................................................................... 250 Morici, Peter, Alexandria, VA, statement .............................................................. 255 Motion Systems Corporation, Eatontown, NJ, William Wolf, statement ............ 256 iii VerDate mar 24 2004 06:30 Apr 14, 2004 Jkt 092208 PO 00000 Frm 00003 Fmt 0486 Sfmt 0486 E:\HR\OC\92208.XXX 92208 Page Motor and Equipment Manufacturers Association, statement ............................ 258 Pontillo, Ralph J., Manufacturers’ Association of Northwest Pennsylvania, Erie, PA, statement .............................................................................................. 250 Robinson, Jr., Roger W., U.S.-China Economic & Security Review Commis- sion, statement ..................................................................................................... 283 Ross, Jr., Wilbur L., statement ............................................................................... 260 Securities Industry Association, New York, NY, statement and attachment ..... 264 Semiconductor Industry Association, statement ................................................... 272 Slattery, Hon. Jim, statement ................................................................................ 277 Smith, Brad, American Council of Life Insurers, statement ............................... 221 Society of the Plastics Industry, Inc., statement .................................................. 178 U.S.-China Economic & Security Review Commission, Roger W. Robinson, Jr., statement ....................................................................................................... 283 Wolf, William, Motion Systems Corporation, Eatontown, NJ, statement ........... 256 iv VerDate mar 24 2004 06:30 Apr 14, 2004 Jkt 092208 PO 00000 Frm 00004 Fmt 0486 Sfmt 0486 E:\HR\OC\92208.XXX 92208 UNITED STATES-CHINA ECONOMIC RELA- TIONS AND CHINA’S ROLE IN THE GLOBAL ECONOMY THURSDAY, OCTOBER 30, 2003 U.S. HOUSE OF REPRESENTATIVES, COMMITTEE ON WAYS AND MEANS, Washington, DC. The Committee met, pursuant to notice, at 2:10 p.m., in room 1100, Longworth House Office Building, Hon. Bill Thomas (Chair- man of the Committee) presiding. [The advisory, the revised advisory, and the revised advisory #2 announcing the hearing follow:] (1) VerDate mar 24 2004 06:30 Apr 14, 2004 Jkt 092208 PO 00000 Frm 00005 Fmt 6633 Sfmt 6633 E:\HR\OC\92208.XXX 92208 2 ADVISORY FROM THE COMMITTEE
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