Posted by: mulrickillion | December 12, 2011

US should seek reciprocity with China

By Michael Wessel, Dec 11, 2011 —

. . . . When a critical problem has defied solution for so long, it is time to search for an alternative. Fortunately, another approach is readily available: reciprocity. The US already conducts some trade negotiations on this basis – for example, on aircraft landing rights at international airports. International mail is delivered by a reciprocal arrangement. The 192 current members of the 1874 Universal Postal Union now benefit economically from the agreement to deliver each other’s mail. With some modifications, the originating country keeps much of the postage and the recipient nation delivers the package.

Reciprocity would not help every aspect of the complex relationship between the US and China. But it would be a useful organising principle and would create a clear benchmark to judge the success of future trade agreements. If Stairway to Heaven costs 99 cents on iTunes or Amazon but is free on China’s Baidu, it should be plain to all that something is very wrong.

US should seek reciprocity with China – FT.com

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