ABSTRACT
Trade exports create jobs and trade imports eliminate jobs if the imports are in US competing industries especially in manufacturing and other industries producing traded goods. China's trade policies mirror Japan's: Chinese government ownership and control of the bulk of its economic resources. The German trade deficit in the 1990s was centered on a combination of macroeconomic, industrial and agricultural trade policies on the part of the US. The Uruguay Round had many more global ramifications than North American Free Trade Agreement, especially for the United States, Europe and China. On April 8, 1999 speaking to a conference of the US Institute of Peace, President Bill Clinton said in so many words that the United States has an interest in integrating China into global economy and the World Trade Organization. Accordingly, he further claimed that Chinese membership in the World Trade Organization will give the United States better access to China's markets and it will enhance China's economic reforms.
