During the U.S.-China summit, our leaders will discuss security, trade, energy and the environment, human rights, and other issues that affect our ties with China. While we may not agree with all of China's policies, high-level engagement allows us to make progress on those areas where we cooperate with China and express our views on those areas where we disagree. We also believe that stronger high-level dialogue over the last several years may well have prevented some of the miscalculations and problems that have occurred. Most recently, these problems include allegations of improper technology transfers and fundraising improprieties. These are serious questions that deserve answers.
National security is a matter of paramount importance.
While we support a full investigation into these matters, we hope Congress will not take steps to damage our overarching strategic relationship with China as the investigation proceeds. We were encouraged by the letter that Speaker Gingrich, Chairman Archer, and the distinguished Chairman of this Subcommittee, Mr. Crane, sent to President Clinton, indicating their belief that while investigation of alleged improprieties is important, termination of China's MFN status would be a far too draconian and detrimental a response. The economy of China has experienced explosive growth in recent years, and its potential is impressive. The estimates of China's infrastructure requirements and the potential of its huge domestic market helped to make China the top international priority for many U.S. companies during the 1980s and early 1990s. Member companies of the U.S. Chamber are eager to pursue opportunities in the Chinese market, particularly given the very aggressive efforts of our European and other Asian competitors.