http://www.washingtonpost.com/wp-dyn/content/article/2010/03/21/AR2010032101111.html
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China warns U.S. that 'trade war' will hurt Americans even more
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BEIJING -- China's minister of commerce warned that United States on Sunday that if it launches a "trade war" against China by leveling punitive tariffs on Chinese imports, the United States would suffer the most.
Minister Chen Deming also said what he termed was the U.S. government's "obsession" with China's exchange rate could not be seriously addressed until the U.S. government stopped blocking the export of high-tech products, such as supercomputers and satellites, to China.
"If some congressman insist on labeling China as a currency manipulator and slap punitive tariffs on...
Chen said the best way for the United States to increase its exports to China would be to relax restrictions on the export of high-technology and dual use goods to China. Since 1989, when China launched a crackdown on student-led protests around Tiananmen Square, the United States has limited some exports to China. Chen said those limits amounted to billions of a dollars a year of potential exports to China.
...And don't expect that China will simply do without these goods, he added. "We're a nation of 1.3 billion people. We graduated 7 million university students a year. We'll either make it ourselves or buy it from somewhere else."
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But if the United States does decide to slap tariffs on China, Chen said, American companies, which account for more than 60 percent of China's exports to the United States, would surely be hurt the most.
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http://www.AmericanWisdom.org
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