Latest News:  
Beijing   Overcast/Thundershower    32 / 23 ℃  City Forecast

Home>>Foreign Affairs

Fair trade badly needed in a time of crisis


08:20, June 20, 2012

BEIJING, June 19 (Xinhua) -- As world waits anxiously for the true dawn of the global economic recovery, restoring stable growth has become the main topic at the ongoing Group of 20 (G20) summit. And to make this happen, it is more imperative than any other time for fair trade to be maintained.

In a speech delivered at the G20 summit, President Hu Jintao called for the resolution to create a free, open and fair global trade environment and oppose all types of protectionism.

"Efforts must be made to keep bilateral and regional trade open and inclusive, and safeguard the multi-lateral trade system," Hu said.

China's firm stance on fair trade is reasonable, as fair trade can fall by the wayside during economic crises, and this has indeed happened since 2008.

According to a World Bank report, protectionist measures surged as the financial crisis hit the global economy. Between November 2008 and March 2012, world governments adopted more than 1,000 discriminatory trade measures, of which most of them were G20 members.

China has become the biggest victim of international trade frictions for 17 consecutive years, a view given by the Chinese government and echoed by the Global Trade Alert, an independent think-tank on global trade. China has also come under repeated attacks on the issues of intellectual property rights and renminbi exchange rates.

The phantom of protectionism looms even larger this year, as the trade remedy investigations into Chinese goods increased 80 percent in the first three months compared to last year.

For the highly-integrated global economy, nations should bear in mind the "all in the same boat" psyche in this time of crisis. But instead, major western economies have resorted to protectionist measures to impair free trade -- giving the lame excuse of opposing inequality.

【1】 【2】


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. Chinese president calls for closer BRICS cooperation, G20 coordination

  2. Costumes of Chinese national team for 2012 Olympics released

  3. Serene scenery in Kanas, Xinjiang

  4. Fire strike from "manual" to "automatic"

Most Popular


  1. China to 'maintain 8% growth for over 20 years'
  2. Larger labor force not a panacea for pension woes
  3. "China Containment theory" has no market
  4. Benefits of direct yen-yuan may be few, far between
  5. Keeping up appearances online proves tough job
  6. Why China's export growth rebounds robustly
  7. Don’t hate the trader, hate the securities game
  8. Master intl rules to solve trade disputes
  9. Investment banks ready to stand on own two feet
  10. China unlikely to undergo local govt debt crisis

What's happening in China

Endangered Northeast leopard snapped in NE China

  1. China to further invest in critical sectors
  2. WTO chief says trade restrictions alarming
  3. China to strengthen produce prices monitoring
  4. Home prices in cities drop at slower pace
  5. Tropical storm to batter eastern, southern China

China Features

  1. Left-behind kids have 'dream house'
  2. China's Olympic history: The road to success
  3. Eight systems of Shenzhou-9 manned spacecraft
  4. The thousand-year-old Tibetan paper
  5. Beijing Summit features five new aspects

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai