When the House votes on permanent normalized trade relations for China, we will be deciding whether the United States will continue to lead in the global economy. I will be voting to grant PNTR to China in a vote for American jobs and for human rights in China. In the expanding global economy, we cannot ignore that China represents a dynamic, expanding market for our exports. Over the past 20 years, China's economy has grown at a rate of more than 10 percent a year. It is clear that the Chinese economy has only one direction to go - up.
China already represents our fourth-largest trading partner.
The agreement negotiated by the administration late last year will open China's markets without increasing China's access to our markets. Once Congress votes for PNTR and China enters the World Trade Organization, American businesses, manufacturers and farmers will have unprecedented direct access to China's 1.3 billion people. This will open the door for them to do what they do best - compete and win by offering the best product or service. Denial of PNTR status to China will damage our own economy and only serve the interests of our international trade competitors. Those competitors, primarily European nations, are just waiting for us to turn our back on potential Chinese customers so they can step into the breach.