It is a great honor and prestige to be asked to make a speech here tonight.
I have chosen a rather serious, unpleasant subject for tonights speech: it is the problem of trade friction between China and the United States.
It seems that criticism is directed mainly toward China for its large trade surplus vis-a-vis the United States.
As of the summer of 1997, the annual surplus amounted to some US $ 50 billion.
The reason for that is that automobiles and electronic products of China are outselling the American equivalents.
Criticism also goes to the closed market of China.
Americans demand that China open its market for American agricultural products such as crops, fruit, and food-meat, and that the complex Chinese distribution system be simplified.
However, I think the basic posture the Americans are taking needs to be changed.
That is, Americans tend to aume that the Chinese are all to blame, and they also demand quick changes from the Chinese.
I think what we really need is a little more patience and effort to understand each other.
Mutual understanding is indispensable today when international interdependence is the rule.
I hope my speech will serve as food for thought and that you will be able to digest it well.
Thank you.
