Treasury Committee Press Notice No. 3

Sesssion 2004-05 9 December 2004

New Inquiry: Impact of China on the World and UK Economy

New Inquiry

The Treasury Committee will be conducting an inquiry, with oral evidence commencing in the New Year, entitled "Impact of China on the world and UK economy".

Background and scope

This issue has been frequently referred to in recent months by commentators and by UK Treasury Ministers. Much of the current expansion in the world economy is being fuelled by very strong growth in China, and this is widely seen as having a significant impact on many major commodity markets. The rapidly growing role the Chinese economy plays in the global economy was reflected in the invitation extended to China to participate for the first time in G7 economic discussions in Washington at the start of October. The Chancellor of the Exchequer has drawn attention to the growing competitive challenge posed by China (and India) to both the UK and European economies.

Invitation to submit evidence

The Committee would welcome written submissions which, in the light of the above, could include discussion of the following issues (though those submitting evidence should feel free to raise other related matters which are considered to be of interest):

- trends in the Chinese economy and policies governing the economy, including exchange rate policy;

- the impact of developments in the Chinese economy on the world economy, including demand for resources;

- the position of China in international economic fora;

- UK-China trade relations and China as an export market for the UK,  and comparative productivity issues.

If written evidence is very brief, it can be sent as a letter, but otherwise it is helpful for the evidence to be in the form of a self-contained memorandum.   If longer than one page, memoranda should have numbered paragraphs (if a memorandum is later printed, page numbers will change, so it is helpful to be able to refer to paragraph numbers). If long, a memorandum should include a one-page summary of the main points, and a table of contents.  Evidence submitted may include material not written specifically for the Committee.

Letters or submissions in hard copy should be sent to the Clerk of the Committee, Treasury Committee, House of Commons Committee Office,  7 Millbank, London SW1P 3JA. However, it would be most helpful to the Committee to receive submissions in electronic format:  these should be sent by e-mail to [email protected] (with a covering letter confirming that it is evidence to be submitted to the Treasury Committee).

Submission of any material by 19 January 2005 would be helpful.

Further Information

Media Enquiries: Luke Robinson, Select Committee Media Officer (Tel: +44 (0)20 7219 8895, Mobile: +44 (0)7834312705, email: [email protected]

Specific Committee Information: Fiona Channon, Tel 020 7219 5769, email:[email protected]

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The Treasury Committee is a Select Committee of the House of Commons, appointed to examine the expenditure, administration and policy of the Treasury, the Inland Revenue, Customs and Excise and associated public bodies. All Members of the Committee are Members of the Sub-committee.

Rt. Hon. John McFall (Chairman), L, Dumbarton
Mr Nigel Beard, L, Bexleyheath and Crayford
Mr Jim Cousins, L, Newcastle upon Tyne Central
Angela Eagle, L, Wallasey
Mr Michael Fallon, C, Sevenoaks, (Sub-committee Chairman)
Rt Hon David Heathcoat-Amory, C, Wells
Norman Lamb, Lib Dem, North Norfolk
John Mann, L, Bassetlaw
Mr George Mudie, L, Leeds East
Mr James Plaskitt, L, Warwick and Leamington
Mr Robert Walter, C, North Dorset