BEIJING, Jan. 7 -- The high number of trade sanction
measures imposed by other countries against China seems to have come as an
unavoidable price for the nation's rise to the top of the world's largest
exporters last year. But the large share China takes in the global trade, in
itself, does not make a case for other countries to resort to protectionism.
If the world is to find a solid footing for lasting
recovery from the worst recession in decades, all countries must guard against
following the trend of protectionism.
Unfortunately, the latest preliminary anti-dumping
duties the United States government slapped on a steel product from China show
that the world's largest economy is no stranger to trade protectionism.
The tariffs, imposed on Tuesday, levy a 43 to 289
percent tax on imports of more than 300 million U.S. dollars of Chinese
wire decking.
This is another move that will escalate trade
disputes between the two major trade players in the world.
Just a week ago, the U.S. International Trade
Commission approved dsuties ranging from 10 to 16 percent on some 2.74
billion U.S. dollars worth of Chinese-made oil well tubing and casing
in the biggest U.S. trade case against China.
These U.S. trade barriers fly in the face of widely
recognized comparative advantages of Chinese exporters. They are also poorly
timed during a year when a weak global recovery is wearing down the sense of
urgency and unity that the international community instilled amid the global
financial crisis to stand against protectionist pressures.
The fact that there has been no collapse in the
international trading system last year indicates that the international
community learned some lessons to prevent trade protectionism from further
damaging the global recession.
But the fight against trade protectionism is far from
over as high unemployment raises more and more concerns in some developed
countries.
The World Trade Organization already predicted that
the number of anti-dumping accusations will jump to 437 this year, twice the
figure in 2009.
Even some Nobel Prize-winning economists in the US
are resorting to arguments of protectionism against China as a recipe to cure
the U.S.' jobless rate.
It may be too early to conclude that the US will be
in a trade war with China. Yet, serious US acts of trade protectionism against
Chinese products coupled with the departure from the very broad consensus among
economists for free trade can make 2010 a year full of trade frictions.
In a fragile global recovery, policymakers are keen
on risking an exit from stimulus measures too soon. However, to sustain the
recovery, they must also understand the very danger of responding to rising
protectionism too late or too lightly.
(Source: China Daily)