Protectionism Doesn′t Pay 国际商务毕业论文翻译.docVIP

Protectionism Doesnt Pay The global financial crisis is no doubt a catalyst for trade protectionism. As the world economy deteriorates, some countries try to boost growth prospects by erecting trade barriers. China calls on these governments not to replay history and revert to protectionism and economic isolationism.Previous global economic crises were usually accompanied by frequent trade disputes. The United States erection of large-scale tariffs in 1930, for example, triggered a retaliatory global trade war. During the two oil shocks in the 1970s and 1980s, trade frictions emerged when major economies attempted to increase exports by depreciating their currencies. And in the wake of the 1997 Asian financial crisis, there was a notable uptick in antidumping actions, countervailing duties and other protectionist measures.The financial crisis is now spilling over into the real economy, hitting sectors like manufacturing and services. In almost all countries, factories are closing and unemployment is rising, creating political pressure and social problems. More and more governments are strengthening intervention in their economies under the excuse of economic security and protecting vulnerable domestic industries to curb imports from other countries, especially those in emerging markets.Trade protectionism differs from legally acceptable measures to protect trade. It is an abuse of remedies provided by multilateral trade rules. This kind of protectionism is morphing into more complex and disguised forms, ranging from conventional tariff and nontariff barriers to technical barriers to trade, industry standards and industry protectionism.With the economic crisis worsening, caution must be taken even in employing trade protection measures consistent with World Trade Organization rules. At the Group of 20 Financial Summit in November 2008, world leaders called for countries to resist trade protectionism and committed themselves to refraining from erecting new b