Proposal by US economist ‘Lieberman’:
Mr President, I rise to introduce a bill that aims to redefine and enhance the relationship between PRC and USA. The United States – China Cultural Engagement Cct of 2005 authorises $1.3 billion over the five years after its enactment.
For the first time ever an economic and military superpower is about to emerge without war or catastrophe: Asia’s middle kingdom: PRC, stands at the precipice of becoming one of the two most influential nations on Earth.
Already, US trade with Asia is double that with Europe and is expected to exceed one trillion dollars annually before 2010. One in six US jobs are currently tied to international trade. Over 400 of the world’s Fortune 500 companies are invested in China’s economy.
Source: Congressional Record, Volume 151, Number 71, page S5926 May 25 2005
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