CALIFORNIA ASIAN PACIFIC ISLANDER LEGISLATIVE CAUCUS

"The Governor is ditching a critical trade mission that could bring in desperately needed revenues so he can vacuum up the cash to fund his campaign," stated Assembly Appropriations Chair and API Caucus Co-Chair Judy Chu (D-Monterey Park). "If he is going to delay a trip of this importance, it should be to balance our budget - not to raise more money from corporate interests."

In February of this year, the governor's office announced he would travel to China to promote California products and increase Chinese investment in the State. The governor was expected to visit Beijing, Shanghai and Hong Kong April 16-23.

Last week, the Schwarzenegger Administration announced this critical trade mission - coming at a time when California's business climate desperately needs a boost - would be postponed "because the trip could conflict with Schwarzenegger's efforts to qualify measures for a special election.." [A.P., 3-9-05]

China's entry into the World Trade Organization (WTO) in 2001, its continuing reduction in tariffs consistent with that membership, and its interest in broadening relations with international partners, have made it a prime target for increased trade. The greater wealth of its citizenry, the historic ties of China with California, and the changed economic climate offer opportunities for increased direct investment in California. California exports to Mainland China were up 22 percent in 2003, to over $5.4 billion. Exports to Hong Kong increased by 13 percent to nearly $4.2 billion in 2003.

"Californians are making some headway in our efforts to close the trade gap with China. Now is the time for our Governor to seize upon this momentum and bring even greater investment here and sell even more of California's products there," said Chu. "Instead of spending his time selling himself to donors, the governor should spend some time 'Selling California' to Chinese investors," she added.

The API Caucus represents the diverse API communities from around the State. Its mission is to advocate for the interests of the API community, including increasing API representation and participation in all levels of government. The members of the California Asian Pacific Islander Legislative Caucus are: Assembly Members Chu, Carol Liu (D-La Cañada-Flintridge), Wilma Chan (D-Oakland), Leland Yee (D-San Francisco/ Daly City), and Alberto Torrico (D-Newark). State Board of Equalization Members John Chiang (D-4th District) and Betty Yee (D-1st District) are honorary members of the caucus.