China warns against protectionist measures

China has expressed apprehensions and warning against protectionist measures adopted by other countries in response to the economic situation will worsen the situation.

A commerce ministry spokesman has expressed concern over the measures. The "Buy American" provisions in the US stimulus package indicate that the Obama regime will continue to press upon the policies in the future as well. America's multi-billion package prohibit the purchase of foreign iron, steel and other manufactured goods for public building projects.

China also expressed concern about the decision by some countries to prioritize the purchase of products from their own markets.

Beijing was also anxious about the accusation that it was manipulating its currency to ensure it enjoyed favorable trading conditions.

"We are against any form of trade protectionism and propose to solve international trade problems through cooperation and discussions," Yao Jian, commerce ministry spokesman said. "We think trade protectionist measures will escalate the already serious economic situation under the financial crisis."

At the same time Beijing also appreciated the latest G7 comments that do not support the US claims that it manipulates the yuan to gain an advantage in trade.

China also labeled the dependence of the US and other rich economies on China to bail them out of the present economic crisis.

Currency Manipulation Is Protectionism

What is currency manipulation if not "protectionism".

Free Trade Extremism - Bad For the Working-Class

The WTO undermines democracy rendering the People's representatives impotent in protecting the interests of the People. Buy America defends the interests of Americans above the interests of industry and is therefore a democratic measure. There is a time for free trade and a time for protectionism. Have we learned nothing about the dangers of free-trade idealism?

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