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Economist: China's imports decline not due to protectionismBy Ding Qi (chinadaily.com.cn)
Updated: 2009-07-04 16:28
"In the process of falling trade, the key player is the economic recession caused by the financial crisis," said Hai Wen, vice president of the prestigious Peking University. "As many products are imported by export-oriented processing enterprises, the decline in imports is not due to protectionism, but rather has been caused by falling exports," he explained. China's foreign trade volume shrank for the seventh month in a row in May, according to latest Customs statistics. Imports were down 25.2 percent year-on-year to $75.37 billion while exports fell 26.4 percent to $88.758 billion. Chen Jian, a vice-commerce minister, Thursday told a news conference that China's exports fell again in June, but the decline was less severe than in May. The June figures are due to be released in the coming week. Hai said it would take time to revive global trade and countries should work on the issue patiently while firmly opposing protectionism.
The first Global Think Tank Summit will be held in Beijing from July 2-4, where close to 100 top-notch think tanks from home and abroad will be represented, including the Brookings Institution.
Main Forum
 International Financial and Economic Crisis and Global Economic OutlookSub-Forums
I: Promoting Trade Liberalization and Investment FacilitationII: Sustainable Development and Macro-economic PoliciesIII: Cooperation and Responsibilities of Multinationals during the Financial and Economic CrisisIV: Global Consumption, Savings and Financial SecurityV: Idea Exchange with Global Think Tanks on Key Economic IssuesAgenda
Afternoon of July 2 - Opening CeremonyJuly 3 - Main ForumJuly 4 - Parallel Sub-Forums |
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