China, S.C. should partner

Posted Thursday, October 2, 2003 - 10:44 pm





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South Carolina workers need jobs

and this state should look

to Asia for future investment.

Gov. Mark Sanford and Commerce Secretary Bob Faith's planned trek to China this month on an economic development mission has caused some understandable grumbling in some quarters because of less-than-warm feelings for this communist stalwart. But on balance, this trip is smart business, if not an unqualified necessity.

The wealth and market potential of the world's most populous nation demands that South Carolina court investment from and seek trade opportunities with China.

The governor is obviously aware that many South Carolinians hold a justifiably dim view of China. Therefore, they have a tough time envisioning our state's chief executive wooing the Chinese. To them, the Chinese symbolize the decline of manufacturing in South Carolina. This has been especially true of the shrinking textile industry, which has found it virtually impossible to compete with the Chinese on labor costs.

But what South Carolinians most resent is China's reputation for playing dirty. Right now the Bush administration is pressing China on its currency, which is thought to be kept artificially low to gain further price advantage in trade. Additionally, the Chinese are known as notorious dumpers, which means that country has been accused time and again of intentionally flooding the U.S. market with cheaper imports in violation of major trade agreements. Also, major U.S. corporations finger China as the world's largest violator of international copyrights.

Despite all this, and the ill feelings they have created, it is in South Carolina's best interest to follow our nation's path and engage China.

The China of today has normalized trade relations with the United States and enjoys membership in the World Trade Organization. Some observers note how Western influences are changing China as U.S. business interests get a stronger foothold in this previously closed country.

For us, the bottom-line reason for engaging China is that it is quite capable of exporting jobs and wealth here. There will come a time when China will make possibly significant investments on these shores, so Sanford and Faith are wise to make the case that there is no better place in this country than South Carolina to build a manufacturing plant or create some other presence.

Plus, it cannot be overlooked that South Carolina's economy and its state budget are suffering because fewer state residents are working, some who once held high-paying jobs have taken a loss in pay and many textile plants and other manufacturers have closed their doors.

Our governor is also reminding the Chinese that trade is a two-way street. Sanford thinks calls for caps on imports are resonating in this economy, so the Chinese have an obvious interest in making more investments here. South Carolina should seek to benefit.

Thursday, October 23  
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