Treaty of Friendship, Commerce and Navigation between the United States of America and the Republic of China
The Treaty of Friendship, Commerce and Navigation between the United States of America and the Republic of China was a bilateral treaty signed by the United States and China on November 4, 1946. It became effective on November 30, 1948, following the mutual exchange of ratifications, pursuant to Article XXX. It fulfilled the desires of both countries to establish such a treaty as previously expressed in Article XII of the Treaty for Relinquishment of Extraterritorial Rights in China. The US received a large  number of economic privileges from this agreement and Chinese businesses complained of unfair competition from US products which dominated the China market. While the treaty contained elements of equal rights, China was in no economic position to exercise its privileges vis-a-vis the vastly more developed US, which have led some scholars to describe the treaty as 'unfavourable' to China or comparing them to the Unequal Treaties. Terms of the Treaty. The terms of the Treaty are summarized as follows: