Christopher Shays: “today, we will make a crucial decision about our place in the global economy. The question of voting for permanent…”

“today, we will make a crucial decision about our place in the global economy. The question of voting for permanent normal trade relations with China is easily answered in economic, social and political terms. Formalizing a freer trading relationship with China will help American employees and employers alike. For China, PNTR will promote democracy, a better standard of living, and ultimately improve human rights. The vote on PNTR is a necessary step toward China's full membership into the World Trade Organization [WTO]. Members of the WTO agree to be governed by a set of rules allowing for a relatively open trading relationship among them. For China to complete its accession to the WTO, it will have to change many of its laws, institutions and policies to make them conform with international trade rules. China must complete negotiations with the WTO, and separately with its various trading partners within the WTO, including the United States. China is the world's third largest economy after the United States and Japan, and the largest not a member of the WTO. It has the world's 10th largest trade economy. If we fail to pass PNTR, our economic competitors in Europe and Japan will have greater access to this huge and still-growing Chinese market--while our own access will still be blocked. American business can compete anywhere in the world and win--if it is given a relatively level playing field.…”