U.S. Chamber Releases Recommendations for Increased Engagement with Asian Countries

As Secretary Clinton Heads to Korea and China, Plan Offers Keys to Reigniting Global Economy

WASHINGTON, D.C.—Ahead of Secretary of State Hillary Clinton's arrival in Korea and China, the U.S. Chamber of Commerce today released its recommendations for U.S. policy toward Asia, urging the Obama administration to step up its engagement with this dynamic region as a key to helping jumpstart the global economy.

"Beyond the stimulus package, U.S. success in reigniting economic growth will depend on expanding trade opportunities for American businesses and workers," said Myron Brilliant, the Chamber's senior vice president of International Affairs and a principal author of the report.

"No market provides more opportunities than Asia," Brilliant said. "Our report urges the new administration to work closely with countries in the region to confront the financial crisis in ways that enhance global economic growth and open markets."

The report urges the administration to build a new consensus that involves educating the American people on the benefits of trade and investment in Asia. It calls on the administration to press Asian economies to move away from their dependence on weak currencies and export-led growth and toward policies that create greater reliance on domestic consumption and increased openness to imports.

Key recommendations for the Obama administration include:
• Setting up a regular, structured senior dialogue with Korea to resolve bilateral trade and

investment issues, even before the free trade agreement is implemented.
• Enhancing high-level dialogue with China by appointing an official of unquestioned stature,

ideally a senior official in the White House, to manage U.S.-China economic relations.
• Elevating bilateral commercial dialogue with the Chinese government in a manner that

engages multiple vice premiers and state councilors on a sustained basis.

• Addressing with China unfair trade and investment practices that protect state-owned

enterprises, deny market access, and discriminate against U.S. businesses through

negotiation of a high-standard bilateral investment treaty.

The complete report is available at: /sites/default/files/press/0902eastasia.pdf

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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