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G20: China opposes protectionism

(People's Daily Online)

16:37, June 19, 2012

The seventh meeting of the Group of 20 (G20) heads of state is being held in Los Cabos, Mexico from June 18 to June 19, and trade and employment is a major topic at the summit.

Certain experts and scholars said in an interview with the People’s Daily that the G20 leaders should effectively implement their commitment made at previous summits to opposing protectionism, openly discuss green growth, sustainable development, infrastructure construction, food safety, global value chain, and other issues, introduce measures for promoting international trade, and prevent certain countries form discriminatory measures with hidden protectionist intent.

Experts generally believe that China’s economy and foreign trade maintained robust growth during the global financial crisis, providing the necessary impetus to world economic recovery and helping stabilize the global economic and financial systems.

Essential to eliminate trade barriers

The G20 accounts for 80 percent of total world trade, and plays a significant role in promoting international trade.

Jia Xiudong, a researcher at the China Institute of International Studies (CIIS), said that since its first summit, the G20 has shown great determination, made some progress, and encountered many problems in solving issues concerning international trade. The group still has a long way to go in this regard.

Jia noted that international trade had been a major topic of discussion at all previous G20 summits. The group has played a positive role in preventing the abuse of protectionist measures in a grim global economy, but failed to curb the protectionist trend that emerged in 2008. There has been a rise in protectionism around the world in recent years, particularly in certain developed countries which have introduced a series of measures regarding green growth and environmental protection technologies with overt or hidden protectionist intent.

Jia said that certain countries have attempted to use China as a scapegoat for their own problems, often taken protectionist measures such as anti-dumping and countervailing duties against China, and kept criticizing China over the yuan’s change rate.

Under such a situation, China has patiently explained its polices, dispelled international concerns and doubts in a well-founded manner, and made good use of multilateral mechanisms to cope with various challenges, Jia said.

According to its own social and economic development needs, China has made efforts to transform its economic growth model, expand domestic demand, and increase exports, and widened the floating range for the yuan’s exchange rate, said Jia.

By doing so, the country has not only created a favorable domestic environment for sustainable economic development, but also promoted international trade. Facts have proved once again that China can manage its own things well, and also make contributions to the world’s development, Jia added.

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