Latest News:  
Beijing   Light rain/Overcast    25 / 20 ℃  City Forecast

English>>China Business

Editorial: Protectionism harmful

(China Daily)

13:29, September 21, 2012

When Premier Wen Jiabao joins European Union leaders in Brussels on Thursday for an annual summit, both China and the EU will have a good opportunity to shape the strategic partnership of mutual respect and mutual benefit the two have vowed to build. However, when blueprinting the future, they will also need to address the recent trade friction, so that bilateral trade can flourish on a healthier terrain.

Since its inauguration in 1998, the China-EU annual summit has proved its strategic importance. As a top-level architecture of dialogue and cooperation covering more than 60 fields, it has become a major platform for the two sides to discuss issues of common concern and forge practical cooperation.

The two sides are expected to sign a series of documents at the meeting in Brussels in fields such as science and technology, anti-monopoly and low carbon.

With the world economic recovery facing many uncertainties, the eurozone debt crisis fermenting and trade protectionism raising its ugly head in Europe, China and the EU's commitments to strengthening their relationship could contribute to the international efforts to help Europe out of the crisis and build up global confidence.

Cooperation between China and Europe has brought tangible benefits to peoples on both sides and contributed to world peace, stability and sustainable development. Last year, bilateral trade topped $567.21 billion, having more than quadrupled since 2003. EU exports to China have grown faster than China's exports to the EU in the past four years. Apart from traditional economic and trade fields, there is great potential in new areas such as urbanization, energy and climate change for the two sides to tap into.

Against this generally rosy picture, however, there exist differences and disputes between the two sides.

Despite Beijing urging dialogue, the European Commission initiated an anti-dumping investigation into China's solar panels on Sept 6 based on untenable accusations. The case involves more than $20 billion of Chinese exports, the biggest so far, and constitutes a test of the bloc's commitment to free trade.

It is hoped both sides will find proper solutions to the latest trade disputes at the summit. At a time when the EU's trade with China is already suffering because of the debt crisis, the wisest course is not to set up trade barriers, but to tap the full potential of bilateral cooperation.

News we recommend:
Banks need to transform to boost margins Consumer finance set to boom in China Ailing steel industry cheered by construction projects
Chinese firms ramp up presence in Thailand Chinese go online to buy latest iPhone Chinese winemakers demand anti-dumping
Energy conservation: A new investment opportunity  Summer Davos cultural dinner party held in Tianjin Steel producers face bleak months ahead

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. PLA Air Force conducts search and rescue exercise

  2. Endeavour takes off for last journey

  3. Foreign realty developers target China

  4. Wang puts her troubles on ice

  5. Sexy & Violence --- Mexican women's wrestling

  6. Funny pictures:the world of brown bears

Most Popular

Opinions

  1. Violent protesters not representative of real issue
  2. China, EU should set example in resolving disputes
  3. Chances of solving Syria crisis regionally ruled out
  4. Japan has never made effort to reflect its past
  5. Global value chains in the world economy
  6. Renaming of South China Sea draws some flak
  7. Returnees should receive a helping hand
  8. U.S. trade dispute with China a mistake
  9. Landings fan protest flames
  10. Politics should not victimize China-US trade

What's happening in China

Chemical leakage turns villages red in Shandong

  1. Shaanxi declines to reveal official's salary
  2. Policeman shot fellow officer, then himself
  3. Renmin University receives $32m donation
  4. Principal defends rejecting autistic boy
  5. Childless elderly to receive government help

China Features

  1. Focus on North Korea's schoolgirls
  2. US suffers 'Arab winter'
  3. To live an amazing life
  4. Survivors tell you how to survive traffic accidents
  5. Why was the U.S. ambassador killed in Libya?

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture