Video footage from the KXAS-TV/NBC station in Fort Worth, Texas, to accompany a news story.

Video footage from the KXAS-TV/NBC station in Fort Worth, Texas, to accompany a news story.

Video footage from the KXAS-TV/NBC station in Fort Worth, Texas, to accompany a news story.

The main task of this thesis is to investigate economic implications of U.S.- China trade. The study period covers from 1972 to 1992. Data are available from International Financial Statistics, Survey of Current Business, Statistical Yearbook of P.R.China. Various hypotheses are employed to explain the basis and gain of trade, the impact of trade on both economies, and the major determinants of bilateral trade flows. This thesis contains five parts: I. Introduction; II. Outlook; III. Theoretical Analysis; IV. Empirical Study; and V. Conclusion. The major findings of this thesis are that both countries have gained advantages from trade and have also faced some unpleasant problems; several widely recognized theories serve as good approaches to understand these issues; the time series distributed lag models are helpful in explaining the determinants of trade flows.

Card from Charlyne Creger to Rigdon Edwards discussing the number of remaining WASP, his attendance to the Silver Wings reunion, and his travels in the near future. On the cover is a painting by Winslow Homer titled "The Reaper".

In the months following China,s 1989 Tiananmen Square crackdown, both the President and the Congress took a number of initiatives protesting Beijing's actions. These initiatives centered around U.S. concerns related to trade, human rights, and non-proliferation. In intervening years, the United States has periodically imposed, lifted, or waived other sanctions and concluded several trade- related agreements with China relating to these concerns. Those measures that remain in place in 1994 are detailed in the accompanying tables.

In the months following China's 1989 Tiananmen Square crackdown, both the President and the Congress took a number of initiatives protesting Beijing's actions. These initiatives centered around U.S. concerns related to trade, human rights, and non-proliferation. In intervening years, the United States has periodically imposed, lifted, or waived other sanctions and concluded several trade-related agreements with China relating to these concerns. Those measures that remain in place in 1994 are detailed in the accompanying tables.

The growing U.S. trade imbalance with China, and alleged Chinese unfair trade practices, have become of major concern to many U.S. policymakers. Over the past few years, the U.S. trade deficit with China has grown at a faster rate than that of any other major U.S. trading partner. In 1993, the U.S. trade deficit with China totalled $22.8 billion, the second largest U.S. bilateral trade imbalance after Japan. Many trade analysts have attributed the growing U.S.-China trade deficit to a variety of Chinese restrictive trade practices. Other areas of concern to the United States have included China's alleged violation of U.S. intellectual property rights, transshipments of textiles to the United States in violation of U.S. textile quotas, and China's alleged use of forced labor for products exported to the United States.

By June 3, 1994, President Clinton must determine whether or not to recommend to Congress a one-year extension of his Jackson-Vanik waiver authority, in effect extending most-favored-nation (MFN)[1] trading status to China for anothe year. The media are reporting that the President has not yet decided whether he will ask for an extension, and that he may also be deliberating over whether or not to attach conditions to a recommendation for approval.

It has been suggested recently that most-favored-nation (MFN) status be extended to China permanently by determining that it is no longer a nonmarket economy (NME) country and thus removing China from the purview of the freedom-of-emigration waiver of the Jackson-Vanik amendment, required for the annual renewal of the MFN status of NME countries.

On May 26, 1994, President Clinton announced he was recommending that MFN status be extended to China for another year despite Beijing's failure to meet the human rights conditions set forward in his Executive Order of the previous year (Executive Order 12850). In addition, the President announced he was taking additional steps with respect to China, including: maintaining U.S. sanctions imposed as a result of the events in Tiananmen

Americans disagree as to whether or not China poses a serious security concern for U.S. interests in peace and security in Asia and the Pacific. Many point to rising Chinese defense capabilities and assertive rhetoric to warn of Chinese military- backed expansion. Others judge that the main danger comes from China's weakness. They argue that the possibility of an emerging breakdown in government authority in China could prompt regional disorder and refugee flows seriously undermining Asian stability. Still others see the Chinese "threat" as grossly exaggerated. They stress that Beijing leaders are in control of the country and see their interests best served by accommodation to their richer and generally better armed neighbors.

Interview with Colonel Columbus Savage, an Army Air Corps veteran (16th Bomb Squadron) and a survivor of the Bataan Death March, concerning his experiences as a prisoner-of-war of the Japanese during World War II. Savage discusses Bataan Airfield (1941-1942), the fall of Bataan and his capture, the Bataan Death March, Camp O'Donnell (1942), Cabanatuan (1942), Davao Penal Colony (1942-1944), Bilibid Prison in Manila (1944), the hell ship to Japan (1945), Mojo and Fukuoka, Kyushu (1945), Mukden, Manchuria (1945), and his liberation by Russian troops. Appendix includes a photocopy of an article from the May 24, 1991 edition of the Carswell Sentinel, titled, "Warrior received belated honors" by MSgt. Dick Hodgson [p. 1]

Interview with Colonel Columbus Savage, an Army Air Corps veteran (16th Bomb Squadron) and a survivor of the Bataan Death March, concerning his experiences as a prisoner-of-war of the Japanese during World War II. Savage discusses Bataan Airfield (1941-1942), the fall of Bataan and his capture, the Bataan Death March, Camp O'Donnell (1942), Cabanatuan (1942), Davao Penal Colony (1942-1944), Bilibid Prison in Manila (1944), the hell ship to Japan (1945), Mojo and Fukuoka, Kyushu (1945), Mukden, Manchuria (1945), and his liberation by Russian troops. Appendix includes a photocopy of an article from the May 24, 1991 edition of the Carswell Sentinel, titled, "Warrior received belated honors" by MSgt. Dick Hodgson.