Locally based American business leaders believe there will be a breakthrough in negotiations on the mainland's accession to the World Trade Organisation due to increasing pressure from other countries to achieve an outcome.
While there was no evidence to date that European Union members were stepping up pressure on the US to reach agreement with Beijing, they would not tolerate any additional demands for concessions by Washington, the businessmen said.
'I don't think Europe would want to be held hostage by US demands,' said director of external affairs for Joseph Seagram & Sons and former chairman of the American Chamber of Commerce (AmCham) Jeffrey Muir.
At the CLSA Investors' Forum, Mr Muir said the US could not afford to miss another opportunity to come to an agreement on the matter after failing to accept the proposal put forward last month.
He said politicians could no longer afford to fall back on political arguments when discussing WTO issues.
'We will see in the next few weeks a return to serious negotiations and commitment to closure of this,' he said.
