Studios hope curtains rise as trade blocks fall
Article Abstract:
The motion picture industry is optimistic that the trade agreement that would make China a full-fledged member of the World Trade Organization (WTO) by the end of 2000 or early 2001 would redound to its benefit. Once China is admitted to the WTO, the number of American films that will be allowed to enter China will be increased to 20 a year. The high hopes that the industry has for the agreement follow the poor performance of foreign movies after a period of success covering the years 1995 to 1998.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Bankruptcies bring short-term pain to China
Article Abstract:
State-owned Guangdong International Trust of and Investment Corp (GITIC), the investment arm of southern China's Guangdong Province, has been declared bankrupt with $4.3 billion in debts and just $2.6 billion in assets. Foreign creditors are likely to get back less than 60 cents on the dollar that they loaned to the company, which was declared insolvent and closed in Oct 1998. Only three of the 106 banks left holding GITIC loans were from the US.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1999
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