Source: Xinhua
05-07-2009 17:34
Special Report: EU-China HEDBEIJING, May 6 (Xinhuanet) -- China's Vice Premier Wang Qishan has said that China and the European Union should take a responsible attitude and demonstrate their common, clear commitment against trade protectionism at the second China-E.U. high-level economic dialogue.
He made the remarks in an article published by the New York Times on Tuesday, titled "Distant Neighbors."
The following is the full text of the article:
The most pressing task facing all countries in the world today is to restore global economic growth as soon as possible. Yet it is worrisome to note that the surge of trade protectionism has made the prospects of the already fragile world economy even worse.
China and the European Union, two major economies and stakeholders in the world, should take a responsible attitude and demonstrate their common, clear commitment against trade protectionism at the second China-E.U. high-level economic dialogue.
Trade liberalization is the engine of economic growth. It has served as a strong propeller of economic globalization and benefited people around the world. On the contrary, trade protectionism — featuring the pursuit of benefits for one country at the expense of others — will only lead to retaliation. It serves the interest of no one.
The world economy paid a heavy price for the prevalence of trade protectionism during the Great Depression in the 1930s, which led to the contraction of global trade by two thirds. We should make sure that the same mistake is not repeated.
Europe is the birthplace of free trade theory, and the E.U. is the product of successful free trade practices. The removal of trade barriers promoted formation of a single European market and enhanced development and prosperity in Europe. As a result, the E.U. has grown into the largest economy in the world today.
