Joseph Knollenberg: “I rise in support of H.R. 1838 and I thank my colleagues on both sides of the aisle for their efforts to bring this bill…”

“I rise in support of H.R. 1838 and I thank my colleagues on both sides of the aisle for their efforts to bring this bill to the floor today. The United States relationship with the Republic of China is vital to our economic and national security interests. Through its financial success and blossoming democracy Taiwan remains a model for other countries in Asia, including China, to follow. The story of Taiwan's economic success is now widespread. During and after the Asian financial crisis, Taiwan's free-market economy fared much better than its centrally controlled neighbors. Their economy, in fact, maintained a GDP growth rate of 4.8 percent over 1998. It is also wise for us to remember that Taiwan is the United States 7th largest trading partner and an important part of the successful economy we enjoy today. In February 1998, Taiwan and the United States negotiated a market access agreement as a prelude to Taiwan's entry into the World Trade Organization. This strong economic relationship with Taiwan and our successful negotiations with Taipei have helped to lead China into its own successful market access negotiations with the United States. Later this year in fact, Congress will pass legislation to grant China permanent normal trade relations status so that United States companies will benefit from China's entrance into the WTO. This will also improve our ability to provide support for the Chinese people who need our help the most.”