The cookies store information anonymously and assigns a randomly generated number to identify unique visitors. The agreement, for example, will allow foreign banks to offer services in local currency to Chinese companies and individuals and permit joint ownership of money-management ventures. for the purpose of better understanding user preferences for targeted advertisments. We also use third-party cookies that help us analyze and understand how you use this website. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin. It’s over five years. To sell in China, Barshefsky noted, "an auto company must build its factories and hire its workers there. "In response to a question about the possible devaluation of the yuan as a result of entrance into the WTO, Barshefksy relayed the Chinese government’s own public statements on this subject: "They don’t believe that WTO accession will create strong pressure for devaluation in part because the commitments made are phased in over time. In addition, China requires transfer of technology and local purchases for parts, and restricts the right to market, finance and repair cars. Kaiser and Jeremy recorded this interview with Ambassador Barshefsky at her offices at the law firm WilmerHale in Washington, D.C., where she is the chair of international trade. 250 million? "Barshefsky offered the audience a case study of the auto industry to illustrate what types of changes China’s accession to the WTO can mean for a particular business. We change none of our trade laws, and none of our laws controlling the export of sensitive technology. "We have not given up anything in this agreement," emphasized Barshefsky. Eroded stock valuations reflect investor concerns that talent shortages hurt productivity and innovation, says Wharton’s Britta Glennon, who has co-authored a new research paper on the topic. Barshefsky was speaking at a webinar event hosted by the Washington-based Centre for Strategic and International Studies (CSIS). China will also expand access for bulk agricultural products; agree to end import bans … and eliminate export subsidies. In agriculture, on U.S. priority products tariffs will drop from an average of 31% to 14% by 2004. On September 26-27, 2018, Ambassador Charlene Barshefsky, a Non-Resident Senior Fellow of the Paul Tsai China Center, visited the China Center to give a lecture and meet with Yale Law School students to discuss current issues related to U.S.-China trade and also to discuss professional opportunities for lawyers in the field of international trade and investment. Kaiser: Learning (or relearning) Spanish, especially via the YouTube channel Aprender Idiomas y Cultura General con Rodrigo. Get Knowledge@Wharton delivered to your inbox every week. Sign up for the weekly Knowledge@Wharton e-mail newsletter, offering business leaders cutting-edge research and ideas from Wharton faculty and other experts. Lined up against China’s entry into the WTO are, in addition to Gephardt, many other Democrats along with their traditional allies in organized labor who fear the potential loss of jobs in the U.S. should China gain WTO admission. As the USTR and a member of the President's Cabinet, she was responsible for the negotiation of hundreds of complex market access, regulatory and investment agreements with virtually every major country in the world.