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Wednesday 18 August 2010

China signed a historic free-trade with Taiwan

China and Taiwan signed a historic free trade agreement on Tuesday morning. China and Taiwan have a problem because Taiwan brakeaway from China but China did not give the sovereign to Taiwan.Under the contract, China has to cut tariffs on 539 items from Taiwan (value at $13.8 billion), and Taiwan has to cut tariffs on 267 items from China (worth $2.86 billion). The benefits of the contract are easy to import and export the products, the price of the product are decrease, there will be several products in the shop or super market so people have their choice to buy the best products. This treaty will represent the peaceful of those country and also the development of the relationship and economy, which benefit both countries. I think this contract will cut the trade barrier of the two countries and this two country don't have to suffer from economic crisis.

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