Passage 1
China is now reaching for the next rung on the economic ladder. 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 the General Agreement on Tariffs and Trade. Membership in this club, which includes all the world's leading economies, could provide a huge boost for a low-wage export economy. Already though, China's commercial strength is starting to worry competitors. Last year China's trade surplus surged, buoyed by exports of toys, textiles and consumer electronics. Its trade surplus with the United States hit a record $18 billion. Only Japan's was larger. With the U.S. Congress due to consider the renewal of China's most-favored nation trade status in June, officials in Beijing fear the trade imbalance could surpass human rights as a source of U.S. opposition to preferred status for China. "The trade surplus itself will be the No.1 problem this year, "says one Chinese official "After Japan, we'll be first in line for retaliation."
Statements:
45.In the past, the trade imbalance was regarded as the more important source of U.S. opposition to preferred status for China than human rights.