【正】 China has a quarter of the world’s population—a vast pool of poten tial consumers for U.S. products and services—and market-oriented reforms have recently helped generate very rapid economic growth. The World Bank has has estimated that China’s economic output will reach $10 trillion by the middle of the new century.China-U.S. economic and trade relations have witnessed rapid progress since the two countries established diplomatic ties in 1979. In the same year, the two governments signed the bilateral Agreement on Trade Relations, in which most-favorednation trade status was extended to each other on a mutually beneficial basis. In early 1980s, a series of industrial cooperation