【澳大利亚人报】China's great trade wall threatens global recovery

nbnbren

China's great trade wall threatens global recovery
http://www.theaustralian.news.com.au/business/story/0,28124,25651965-5018066,00.html

Michael Sainsbury, China correspondent | June 18, 2009

CHINA has sought to ensure the bulk of its 4 trillion yuan ($738 billion) stimulus package is spent on domestic goods and services, in a protectionist measure that could destabilise the global economic recovery.

A group of nine powerful Chinese government bodies including the State Council, or cabinet, have issued an edict against using any stimulus money to buy foreign goods, in a policy quietly released internally late last month.

The move is in contrast with consistent anti-protectionist rhetoric from China's leaders, and could dampen Western hopes to use China's healthy economic growth to prop up their flagging exports and pull the global economy out of its worst slump in 80 years.

"For government-invested projects, unless the products or services are not obtainable in China, buyers should purchase Chinese products, and strengthen supervision on equipment importation," the policy states.

China joins NSW as the latest economy to try protectionism as a fresh cure for their ills. In its budget this week, NSW handed a 20 per cent discount to Australian firms with 500 or fewer workers when they were in competition for government work with offshore firms. Extra discounts of up to 6 per cent will be given to firms in rural and regional areas. That decision earned a swift rebuke from the US and European Union, which have sent please-explain notes to the Rudd government about the protection for local industry.

Trade Minister Simon Crean has written to NSW Premier Nathan Rees on the issue. "This is a bad signal to the rest of the world, and we have to counter that bad signal," Mr Crean wrote.

A spokesman for the minister said last night that the government was aware of press reports that the Chinese government had introduced a "buy Chinese" policy. "This is a regrettable development which has the potential to undermine Australian jobs and Australian exports," the spokesman said.

"China is one of our top two trading partners. This reported move by the Chinese underscores the danger of retaliation and a tit-for-tat trade war."

But commenting on the NSW government move, the Chinese embassy in Canberra said China was "firmly opposed to trade protectionism".

"Experience has proved that trade protectionist measures only end up harming others and oneself," an official said.

Economists around the world have issued warnings that any return to protectionism could repeat the mistake of the last massive economic downturn in the 1930s and risk turning recession into depression.

Independent economists in China yesterday attacked the country's new policy.

"It's an inappropriate policy, issued at inappropriate time, not long after Premier Wen Jiabao visited the EU and advocated free trade," independent analyst Xu Bin of Anbound Group told The Australian.
The timing of China's decree is also shrouded in intrigue. Although it was dated May 26, it was apparently not posted on the website of the National Reform and Development Commission, China's powerful central planning group, until June 4 -- the same day as the 20th anniversary of the Tiananmen Square. The news was not reported in the Chinese press until this week.

Chinese officials have railed publicly against protectionism. China's exports sector has much to lose if other countries stop importing its goods. But China is also desperately trying to boost domestic demand -- a strategy generally applauded in the West -- as it struggles to restructure its economy.

"(The policy) is an interference, and (such) protectionist policies are (usually) made under the influence of politics,"' independent Beijing-based economist Zheng Xuguang said. "But it will harm consumers in the long run, since their purchase choices are restricted."

nbnbren

认领

nbnbren

好了http://bbs.m4.cn/forum.php?mod=v ... p;extra=#pid2429124