Prices are in many cases at, or near, historic lows in real terms as markets struggle to cope with floods of surplus produce.

The Curtain Goes upA clearly confident China has rolled up a large section of its bamboo curtain, declared itself "open to the outside world" and hung signs on nearly all its cites inviting foreign investors to. come and do serious business.The four special economic zones(SEZs) in Guangdong and Fujian provinces,14 costal cities and Hainan island have specifically designed tax and other incentives for the foreign investor. But every provincial capital is doing its best to attract foreign investment.In April 1984, after the country's top leaders had visited the Shenzhen, Zhuhai and Xiamen SEZs, the State Council declared 14 cities along the entire coast plus Hainan island open to foreign investment, thus introducing a real element of competition into the country’s economic-development programme. Then came the much-publicized" decision on reform of the economic structure" and suddenly, the race to get foreign technology and funds was on.Stock-taking of the open policy will come later this year when the National People's Congress discusses the seventh five-year plan, which will run to the end of the decade.China is fully confident in her social system-socialism with Chinese characteristics.

The Curtain Goes upA clearly confident China has rolled up a large section of its bamboo curtain, declared itself "open to the outside world" and hung signs on nearly all its cites inviting foreign investors to. come and do serious business.The four special economic zones(SEZs) in Guangdong and Fujian provinces,14 costal cities and Hainan island have specifically designed tax and other incentives for the foreign investor. But every provincial capital is doing its best to attract foreign investment.In April 1984, after the country's top leaders had visited the Shenzhen, Zhuhai and Xiamen SEZs, the State Council declared 14 cities along the entire coast plus Hainan island open to foreign investment, thus introducing a real element of competition into the country’s economic-development programme. Then came the much-publicized" decision on reform of the economic structure" and suddenly, the race to get foreign technology and funds was on.Stock-taking of the open policy will come later this year when the National People's Congress discusses the seventh five-year plan, which will run to the end of the decade.Special tax is only for foreign investors in SEZs and other incentives are for investors in the 14 coastal cities.

The Curtain Goes upA clearly confident China has rolled up a large section of its bamboo curtain, declared itself "open to the outside world" and hung signs on nearly all its cites inviting foreign investors to. come and do serious business.The four special economic zones(SEZs) in Guangdong and Fujian provinces,14 costal cities and Hainan island have specifically designed tax and other incentives for the foreign investor. But every provincial capital is doing its best to attract foreign investment.In April 1984, after the country's top leaders had visited the Shenzhen, Zhuhai and Xiamen SEZs, the State Council declared 14 cities along the entire coast plus Hainan island open to foreign investment, thus introducing a real element of competition into the country’s economic-development programme. Then came the much-publicized" decision on reform of the economic structure" and suddenly, the race to get foreign technology and funds was on.Stock-taking of the open policy will come later this year when the National People's Congress discusses the seventh five-year plan, which will run to the end of the decade.Foreign direct investment is regarded as a real element of competition introduced into Chinese market in 1984.

The Curtain Goes upA clearly confident China has rolled up a large section of its bamboo curtain, declared itself "open to the outside world" and hung signs on nearly all its cites inviting foreign investors to. come and do serious business.The four special economic zones(SEZs) in Guangdong and Fujian provinces,14 costal cities and Hainan island have specifically designed tax and other incentives for the foreign investor. But every provincial capital is doing its best to attract foreign investment.In April 1984, after the country's top leaders had visited the Shenzhen, Zhuhai and Xiamen SEZs, the State Council declared 14 cities along the entire coast plus Hainan island open to foreign investment, thus introducing a real element of competition into the country’s economic-development programme. Then came the much-publicized" decision on reform of the economic structure" and suddenly, the race to get foreign technology and funds was on.Stock-taking of the open policy will come later this year when the National People's Congress discusses the seventh five-year plan, which will run to the end of the decade.We cannot use "drive" to substitute the word "race" in "the race to get foreign technology and funds was on”.

The Curtain Goes upA clearly confident China has rolled up a large section of its bamboo curtain, declared itself "open to the outside world" and hung signs on nearly all its cites inviting foreign investors to. come and do serious business.The four special economic zones(SEZs) in Guangdong and Fujian provinces,14 costal cities and Hainan island have specifically designed tax and other incentives for the foreign investor. But every provincial capital is doing its best to attract foreign investment.In April 1984, after the country's top leaders had visited the Shenzhen, Zhuhai and Xiamen SEZs, the State Council declared 14 cities along the entire coast plus Hainan island open to foreign investment, thus introducing a real element of competition into the country’s economic-development programme. Then came the much-publicized" decision on reform of the economic structure" and suddenly, the race to get foreign technology and funds was on.Stock-taking of the open policy will come later this year when the National People's Congress discusses the seventh five-year plan, which will run to the end of the decade."Stock-taking of the open policy" means reviewing of the open policy.

Beijing RisingChina remains primarily a nation of farmers, and the transition to an industrial free market is much like the traffic on Highway 204-unpredictable. Few state-owned firms have been sold, and most are laggard behemoths. Growth is driven by new joint ventures, collectives and private busines-ses, which now account for more than 50% of China’s industrial production.For China’s newly-rising enterprises, profits are up throughout the region-thanks largely to low wages. Last year the BeiBei company in Zhangjiagang cleared $14 million on exports of 10 mil- lion pairs of shoes to U.S. department stores. Typically, Chinese workers in a plant like this make about 34 cents an hour, compared with $3.50 for Korean workers, according to South Korean esti- mates. That gives China a huge competitive advantage.Last fall Beijing agreed to open its markets to more U.S. goods, including everything from Polaroid film to automobiles. In return, Washington would support China’s membership in General Agreement on Tariff and Trade. Membership in this club, which includes all the world's leading economies, could provide a huge boost for low-wage export economy. Last year China’s trade surplus surged, buoyed by exports of toys, textiles and consumer electronics. "The trade surplus it- self will be the No.1 problem this year," says one Chinese officials. "After Japan, we’ll be first in line for retalintion."At the same time, Americans has an increasingly large stake in good relations with China.Transition of China from an agricultural nation to an industrial country will be slow and difficult.

Beijing RisingChina remains primarily a nation of farmers, and the transition to an industrial free market is much like the traffic on Highway 204-unpredictable. Few state-owned firms have been sold, and most are laggard behemoths. Growth is driven by new joint ventures, collectives and private busines-ses, which now account for more than 50% of China’s industrial production.For China’s newly-rising enterprises, profits are up throughout the region-thanks largely to low wages. Last year the BeiBei company in Zhangjiagang cleared $14 million on exports of 10 mil- lion pairs of shoes to U.S. department stores. Typically, Chinese workers in a plant like this make about 34 cents an hour, compared with $3.50 for Korean workers, according to South Korean esti- mates. That gives China a huge competitive advantage.Last fall Beijing agreed to open its markets to more U.S. goods, including everything from Polaroid film to automobiles. In return, Washington would support China’s membership in General Agreement on Tariff and Trade. Membership in this club, which includes all the world's leading economies, could provide a huge boost for low-wage export economy. Last year China’s trade surplus surged, buoyed by exports of toys, textiles and consumer electronics. "The trade surplus it- self will be the No.1 problem this year," says one Chinese officials. "After Japan, we’ll be first in line for retalintion."At the same time, Americans has an increasingly large stake in good relations with China. Non-state owned businesses contribute more than 50% of the economic growth.

Beijing RisingChina remains primarily a nation of farmers, and the transition to an industrial free market is much like the traffic on Highway 204-unpredictable. Few state-owned firms have been sold, and most are laggard behemoths. Growth is driven by new joint ventures, collectives and private busines-ses, which now account for more than 50% of China’s industrial production.For China’s newly-rising enterprises, profits are up throughout the region-thanks largely to low wages. Last year the BeiBei company in Zhangjiagang cleared $14 million on exports of 10 mil- lion pairs of shoes to U.S. department stores. Typically, Chinese workers in a plant like this make about 34 cents an hour, compared with $3.50 for Korean workers, according to South Korean esti- mates. That gives China a huge competitive advantage.Last fall Beijing agreed to open its markets to more U.S. goods, including everything from Polaroid film to automobiles. In return, Washington would support China’s membership in General Agreement on Tariff and Trade. Membership in this club, which includes all the world's leading economies, could provide a huge boost for low-wage export economy. Last year China’s trade surplus surged, buoyed by exports of toys, textiles and consumer electronics. "The trade surplus it- self will be the No.1 problem this year," says one Chinese officials. "After Japan, we’ll be first in line for retalintion."At the same time, Americans has an increasingly large stake in good relations with China.The low cost labor force enabled China to have a great competitive advantage over some of her Asian neighbors.

Beijing RisingChina remains primarily a nation of farmers, and the transition to an industrial free market is much like the traffic on Highway 204-unpredictable. Few state-owned firms have been sold, and most are laggard behemoths. Growth is driven by new joint ventures, collectives and private busines-ses, which now account for more than 50% of China’s industrial production.For China’s newly-rising enterprises, profits are up throughout the region-thanks largely to low wages. Last year the BeiBei company in Zhangjiagang cleared $14 million on exports of 10 mil- lion pairs of shoes to U.S. department stores. Typically, Chinese workers in a plant like this make about 34 cents an hour, compared with $3.50 for Korean workers, according to South Korean esti- mates. That gives China a huge competitive advantage.Last fall Beijing agreed to open its markets to more U.S. goods, including everything from Polaroid film to automobiles. In return, Washington would support China’s membership in General Agreement on Tariff and Trade. Membership in this club, which includes all the world's leading economies, could provide a huge boost for low-wage export economy. Last year China’s trade surplus surged, buoyed by exports of toys, textiles and consumer electronics. "The trade surplus it- self will be the No.1 problem this year," says one Chinese officials. "After Japan, we’ll be first in line for retalintion."At the same time, Americans has an increasingly large stake in good relations with China.The strategy of opening markets to more U.S. goods is adopted by Chinese leaders in the hope of obtaining Washington's support in winning back China's membership in GATT.