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They may not share the same politics, but Taiwanese and Chinese delegates at a business conference here had no differences today about one course the U.S. Congress should take: Approve permanent trade relations with China and support its entry into the World Trade Organization.
They also predicted the healthy trade and investment between Taiwan and China would continue despite highly contentious Taiwanese elections last week. But they emphasized that maintaining a stable environment was important for the business that so heavily benefits both countries.
"Permanent normal trade relations are good for Taiwan as well because we have such a big investment in China," said Sayling Wen, group vice chairman of Taiwan-based Inventec Corp. and a delegate at the Pacific Basin Economic Council.
Regarding the election's impact on business, "we don't see any immediate changes ... or a very urgent situation. It is dangerous to change today's situation sharply. We have a win-win case on both economic sides."
Wang Jinzhen, director general of international relations with the China Chamber of International Commerce, agreed.
With WTO membership and permanent U.S. trade relations, "China will expedite its economic restructuring in the process of economic globalization," Wang said. "We cannot be separate from the rest of the world."
He also predicted that Taiwan and Chinese business would remain strong. "We're going to do what we've been doing in the past."
But Wang said the two countries needed to maintain a stable relationship for that to continue.
Taiwan and China have totaled $160 billion in trade in the last decade. Taiwan is the third- to fourth-biggest investor in China, investing $25 billion there.
Chen Shui-bian, Taiwan's new president-elect, said yesterday that he supports Chinese membership in WTO and wants the United States to grant China permanent normal trade relations. Taiwan cannot become a WTO member until China does.
Granting permanent trade status to China faces opposition in Congress because of Chinese threats to Taiwan, its human rights record, and protest from unions.
Government officials, business delegates and analysts at this week's PBEC conference in Honolulu have been united in their call for granting the trade relations to China. They say it will improve the U.S. economy, including Hawaii, will open up China more to the world and lead to a more stable and prosperous global environment. China had warned Taiwanese not to elect Chen, who opposes the one-China policy. But Chen and leaders in Beijing have agreed to try to negotiate an end to 50 years of disagreements and tension about China's demand to bring Taiwan under its rule.
Regarding permanent trade relations with the United States, Wang said Hawaii had much to benefit from a more open Chinese market, especially in the areas of biotechnology, telecommunications and environmental protection.
He said an estimated 10 million internet users exist in China, and that will increase by 50 percent or more each year.
"China will one day be the biggest internet user in the world," he predicted.
