THE PERILS OF CHINA POLICY
Your Cover Story "Rethinking China" (Mar. 4) claims China is an unruly giant. Yet you fail to point out that it's the lawmakers in Washington and the Clinton Administration's lack of a consistent China policy that is at the core of the troubles between Washington and Beijing. A sound China policy was brilliantly outlined by former President Richard Nixon, who once pointed out that Beijing's trade policies, world outlook concerning its national security, and military buildup were a clear signal to the Clinton Administration that Beijing wants to be recognized as a power of the world in its own right, and rightfully so. China is no longer on a colonial footing, as in the past, toward the Western powers. Many Chinese people, including myself, an American-educated businessman, believe that Washington intends to limit China to a role of a developing nation whose development must be checked by Washington and its world order.
In your editorial "No cold war with China, please" (Mar. 4), you advocate a Shanghai communique II to "recommit the U.S. to a one-China policy and recognize the legitimacy of China's goal of national reunification with Taiwan." What right does BUSINESS WEEK have to use Taiwan and its 21 million people as pawns or bargaining chips for the purpose of appeasing and kowtowing to the world's most dictatorial and oppressive regime domestically and the worst rule-violating, stubborn, and uncooperative government internationally?
As a Taiwanese American, I want to see the U.S. sternly uphold its national interests in the Pacific region, and maintain and promote the security, peace, and prosperity of the entire region. Only time and the will of the Taiwanese people, free from any outside influence or coercion, will settle the Taiwan issue.
Paul B. Ding
St. LouisReturn to top
SINCE NASDAQ IS NOT BROKEN...
Maybe I'm missing something, or maybe it's just that I live outside the Beltway, but I don't understand SEC Chairman Arthur Levitt Jr.'s "crusade" to make over NASDAQ--to, as you put it, give "the little guy a fair shake" ("NASDAQ: Power to the people?," Finance, Mar. 4). Take it from this little guy: NASDAQ has given me more, much more than a fair shake. Without exception, my best investments have been NASDAQ stocks. And judging by the performance and volume of the NASDAQ market, there must be millions of other "little guys" like me. You predict Levitt will prevail in his quest. Maybe so, but that would be a shame. Regulators have a way of fouling up markets.
Encino, Calif.Return to top
DETROIT DEMANDS A RECOUNT ON AUTO EXPORTS
The article on U.S. automotive exports, "America's No.1 car exporter is...Japan?" (Industries, Feb. 26), is at odds with the facts about the nation's No.1 (General Motors), No.2 (Ford Motor), and No.4 (Chrysler) exporters. In fact, a rival magazine's most recent ranking of the top U.S. exporters puts America's car companies at the top of the list, with a total of $37.4 billion in export sales of vehicles and parts.
Even your correspondents acknowledged that Detroit jumps way ahead of the Japanese transplants in terms of total vehicle exports (316,000 units vs. 167,000 units) when the light-truck segment--which includes minivans and sport-utility vehicles--is included. Counting only automobile exports is misleading, especially when the light-truck segment is among the fastest-growing in many overseas markets, such as Japan and Korea, just as it is here.
GM, Ford, and Chrysler are working hard to recruit dealers and increase their presence in Japan. However, most of that nation's carmakers own their own distribution points in the most favorable locations, giving the transplants a leg up on us in getting their cars and trucks to Japanese consumers.
Andrew H. Card Jr.
President & CEO
American Automobile Manufacturers Assn.
WashingtonReturn to top