In the evening of Dec 3rd, the top executives of American enterprises in China gathered at the China World Hotel for a banquet held by Chinese and American chamber of commerce.

At 6:30, Bo Xilai, Minister of Commerce of China, the highest official to the banquet entered the VIP room. He walked towards David Sedney, Minister of American Embassy in China after shaking hands with other guests. A dialogue began after greetings:

David Sedney, "Minister Bo, I hear that you work very late in the evening after assuming the position of minister."

Bo Xilai, "We do work late every day, because America makes us confronted with so many antidumping cases. Haha!"

David Sedney, "Actually a lot of retailers in America oppose the government's antidumping measures to China.

Bo Xilai, "That's very good. That's very good. It came to me that you have begun anti dumping on China-made cotton socks. What threat will the cotton socks create to strong America?

David Sedney, "You will never guess how powerful the little socks are."

Bo Xilai, "I feel you are too sensitive."

David Sedney, "Minister Bo, let's change a topic, from cottons socks to airplanes in the sky." Sedney finds himself an out by pulling Wang Jianmin, President of Boeing China Co., Ltd in front of Bo.

"Too early to say China threat"

Bo Xilai has faced complex antidumping problems and environment for trade since he took the position as Minister of Commerce on Feb 29. His American counterparts are his first negotiation rivals.

The American government has imposed restrictions on China made socks, bras, bath robes, according to Chong Quan, spokesman of the Ministry.

The American officials say these commodities are closely related to the market of apparel trade that has a worth of US$ 76 bln a year, and the future of the American textile industry.

"A couple of years ago, the so-called China threat appeared on American newspapers," Bo says, "but it maybe proper to say so after ten years."

Complementary action outweigh competition

Bo says, "complementary actions outweigh competition, benefits outweigh contradictions between China and America."

"This is not self consolations, not cliche, but the facts." The Sino-American trade has created more than 500, 000 job opportunities for America. China's export to the US has saved US$ 20 bln for American consumers.

"In fact, in the fields of high and medium end products, America's true rivals are Europe and Japan, not China." America's export to China has risen by 34 percent in 2004. The figure is much higher than increase of America's export to other regions, which is usually about ten percent. The trend will last for many years.

"China and the United States have complementary economies, which are structural, stable and will exist for a long term", Bo says, "The contradictions between America and China are contradictions in the process of development. It is the contradictions between the No. 1 developed country and the largest developing country."

Based on the above points, the Ministry of Commerce of China will dedicate to push forward the Sino-American cooperation by doing three things in the new year. First, create a well environment for American enterprises in China and make the laws regulations policies more transparent. Carefully all commitments made as joining the WTO. Strengthen intellectual property protection.

"China has 500, 000 people working for the protection of intellectual property rights. This is the largest team in the world under command of Vice Premier Wu Yi," adds Bo.

The trade disputes between China and America are mainly caused by America's stance on China's market economy status. As a Chinese saying goes, "he who gives convenience to others will enjoy convenience himself". Another saying is "plant less thorns but more flowers". If China is granted full market economy status, you will have more friends in China to work with.

By People's Daily Online