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People's Daily Online>>Foreign Affairs

Trade tensions may increase: economists

By Fu Jing (China Daily)

08:19, January 30, 2012

DAVOS, Switzerland - Trade tensions between China and the United States may be exacerbated by the global financial outlook and US election politics, economists said.

"What I worry about are trade tensions between China and the US," Stephen Roach, senior research fellow at Yale University's Jackson Institute for Global Affairs, told China Daily in Davos during the World Economic Forum.

Roach did not elaborate on who was to blame for growing trade tension. But he described China as his "favorite economy" because it has weathered economic challenges without sacrificing the interest of other economies.

"I don't think trade friction between China and other economies will grow, but my worry is about (the frictions between) China and the US," Roach, an expert of the Chinese economy, said. "Trade tensions are going to be a major feature amid the shift in the global environment in the next few years."

Roach said that he was hopeful over another challenge facing China: transforming China's economy from one that focuses on trade and investment to one based on domestic consumption, as indicated in the 12th Five-Year Plan (2011-15). "I am optimistic that China will do it," he said.

At a panel discussion on whether emerging markets can deliver global growth, Li Daokui, policy adviser of China's central bank and director of the Center for China in the World Economy at Tsinghua University, also listed trade tensions between China and the US as a concern.

"We must pay close attention to growing trade tensions between China and the US," said Li, adding that protectionism does not help protect US jobs.

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helen at 2012-01-30203.82.92.*
The writings are on the wall long before this. Must they draw out the pictures as well!The United States has fired so many salvos against China and it is very boring to keep reading the whinning articles in the People's Daily. Only to show that Chinese media have always been on the defensive - just to maintain a higher moral ground than US Global Tyranny.If anything China and the Chinese people will have to face more and more vile and evil schemes by the US. With the US burning in jealousies and envy, what can you expect them to do - but to do China and the Chinese people in at every possible turn. Expect more rather than less from US Global Tyranny. They are sharpening their knives for the kill ......

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