Unfortunately the U.S. Congress is against any new free-trade agreements. If the next Congress continues to oppose FTAs, valuable time will be lost, and it may be too late to try again. Congress must be made to realize how high the stakes are and that the outlook for a balanced and equitable relationship between the American and Chinese markets is becoming increasingly difficult. Every year China attracts more imports and exports from its neighbors than the U.S. does from the region. Without an FTA Korea, Japan, Taiwan and the Asean countries will be integrated into China’s economy — an outcome to be avoided.
Lee Kuan Yew (李光耀), Singapore Senior Minister, Forbes, December 20, 2010 – complete article here »