Text: DeLay Denounces Beijing Regime's "Economic Thuggery"
(Statement by House Majority Whip Tom DeLay)The third ranking Republican in the House of Representatives took the Beijing regime to task for what he termed "economic thuggery."
Representative Tom DeLay (Republican of Texas) issued his statement August 31 following a report in The Wall Street Journal that China had barred Credit Suisse First Boston from future business deals with the communist regime because the bank held two business conferences attended by senior officials of the Taiwanese government.
"By targeting Credit Suisse for associating with Taiwanese officials, Beijing's Communist rulers are practicing a predatory pattern of international extortion that is incompatible with the principles of free trade and civilized relations," DeLay said in his statement.
The majority whip also warned that if China's communist rulers want to enjoy the benefits of free and open trade, they must desist from "economic thuggery."
Following is the text:
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FOR IMMEDIATE RELEASE:
Friday, August 31, 2001Majority Whip DeLay Statement on China Barring CSFB From Future Business Deals
Washington, DC:
House Majority Whip Tom DeLay (R-TX) issued the following statement following a report in today's Wall Street Journal which revealed that the Communist Chinese regime has barred Credit Suisse First Boston Corp. from future business deals after the investment bank held two business conferences attended by senior Taiwanese officials:
"By targeting Credit Suisse for associating with Taiwanese officials, Beijing's Communist rulers are practicing a predatory pattern of international extortion that is incompatible with the principles of free trade and civilized relations.
"The essence of free trade is the open opportunity for all companies and nations to offer their goods and services to willing buyers around the world. I've worked to strengthen trade relations between China and the United States for two reasons: First, free trade raises the standard of living for people within both trading partners. Second, free trade encourages the acceptance of democratic ideals.
"The Communist Chinese regime's vengeful action against Credit Suisse is unacceptable. If China's Communist leaders want to enjoy the benefits of free trade, they must drop this pattern of economic thuggery."
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