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CNN Live At Daybreak

China and Taiwan's Approval By WTO Will Help Investors

Aired November 12, 2001 - 05:45   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: Trade representatives from 142 countries are meeting today in Qatar. They are already making headlines with the approval of two new member nations.

CNN's Dalton Tanonaka is in Hong Kong with the latest -- good morning. I'm curious to know how this will affect U.S. and Asian markets.

DALTON TANONANKA, CNN CORRESPONDENT: Yes, Kyra, that's a good question. You know, I think what it will do is investors will simply get more options. The expected transparency that WTO membership should bring China will help investors, I think, make better decisions. They get to know more about the companies that are in China.

What it won't do, Kyra, is affect China's foreign exchange system very soon. There had been talk about floating the China's Yen -- that's their currency -- but that probably won't happen for five years. Chinese officials want to protect that as long as they can -- Kyra.

PHILLIPS: Dalton,how is this going to impact the independence movement with regard to Taiwan?

TANONAKA: The independence movement, you know, I think it's going to improve cross-strait ties. Taiwan does a lot of, as you know, direct investment in China already, so this will accelerate that. The big winners in those two big markets are the consumers. They'll get cheaper imports into Taiwan, and that should make those who go shopping, especially as we head into the holiday time, very happy -- Kyra.

PHILLIPS: No doubt -- Dalton Tanonaka, thank you so much.

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