New York Times | By THE ASSOCIATED PRESS | May 24, 2000
LONDON - Europeans, like Americans, are divided over whether to cheer - or to fear - the development of closer economic ties with China.
Still, the 15-nation European Union sealed a comprehensive commercial pact with China last Friday, jumping the gun on the United States.
The European agreement, to take effect once China becomes a member of the World Trade Organization, will help reduce tariffs on 150 major European imports and make it easier for European businesses to compete in Chinese service industries such as insurance and telecommunications.
"I think we've got everything to gain," the trade spokesman Anthony Gooch said of the agreement. Whereas the European Union does not discriminate against Chinese imports, Beijing has restricted the import of European goods, he said.
"To the extent that you are able to export far more and on far better terms to China, there is no reason why the opening of the Chinese market shouldn't lead to job creation."
The European accord removed the last big hurdle to Beijing's joining the World Trade Organization.
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