China and Taiwan ease tension with new trade agreement

[pampango]

Source: Examiner.com

China and Taiwan agreed to a free trade agreement in June 2010 which is now taking effect allowing both countries to exchange goods without the imposition of import tariffs.

Both countries have a long history of political disagreements since the civil war broke them apart in 1949 but 60 years later, such political differences do not seem to stand in their way to seek closer economic ties.

The agreement consists of more Chinese concessions than Taiwanese. Taiwan already exports $14 billion to China annually and most of the goods are now fully or partially exempt from import tariffs. Chinese exports to Taiwan are worth $3 billion on an annual basis.

One thing is certain, the new agreement is a giant step closer towards easing the political tensions between the two countries and is also a sign that China is willing to make concessions in order to continue to grow its economy, primarily in the Asia-Pacific region.

Read more: http://www.examiner.com/international-trade-in-national/china-and-taiwan-ease-tension-with-new-trade-agreement

[BolivarianHero]

1. Nice to see the KMT/Mainlander elite surrender to Beijing again...

They've always been slaves to either Washington or Beijing depending on what got them the most money and power. Fuck the Kuomintang.