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Reject protectionism

(China Daily)
Updated: 2009-02-02 07:47

The message that Premier Wen Jiabao delivered at Davos and during his European tour is simple and clear: Trade protectionism is not the answer to the current global crisis.

In a year when the world economic growth is forecast to come to a virtual halt - its lowest level in 60 years - with global trade plummeting, such a warning against protectionism is more than needed.

Though the international community has had the terrible lesson that protectionism only exacerbated the Depression in the 1930s, there is so far no guarantee that the world will not need to learn it again during the ongoing fight against the worst recession in decades.

The Chinese Year of the Ox began with the international community tensely exploring ways to save the global economy.

Vigorous and coordinated stimulus measures to tackle the current financial crisis and economic downturn are badly needed. So are forward-looking considerations over structural reforms to promote sustainable global economic growth in the post-crisis period.

Yet, with no end in sight for the crisis, it is far too early to tell if counter-crisis responses adopted so far are effective enough or will work at all.

Amid all the uncertainties surrounding the world economy, however, one thing is for sure - there is an urgent need for global efforts to rein in the rise of protectionism.

It is generally agreed that trade protectionism will not only hurt everyone but also postpone the recovery of the world economy. But the appeal that protectionist measures might safeguard a country's economy for a while has often allured some countries to talk one way and act the other in the fight against protectionism.

As a responsible member of the World Trade Organization, China has always supported the healthy and stable development of the multilateral trading system and strived to create a fair, free and convenient trading environment around the world.

Nevertheless, China is keenly aware that its commitment to free and fair trade alone is not enough to prevent protectionism from gaining ground in some other countries.

That is why the Chinese Premier is using every opportunity during his recent tour to call for strengthened trade between China and its European counterparts. And this message is obviously intended for a wider audience.

If all major economies can engage themselves in expanding trade opportunities, protectionists will find much less room to advance their misleading claim.

And if the international community really wants to avoid repeating the terrible mistake of the 1930s, every country should explicitly reject protectionism, even as a matter of expediency.

(China Daily 02/02/2009 page4)