Home / Knowledge / News / 'Effects of protectionism will show after 2-3 years' – Experts
'Effects of protectionism will show after 2-3 years' – Experts
28
Feb '09
Mr Chen Deming, Minister of Commerce
Mr Chen Deming, Minister of Commerce
On February 20, Mr Chen Deming, Minister of Commerce, wrote an article in the Wall Street Journal. He said, “Global trade is in a very grim situation. Economic crisis has led to a recession in foreign demand leading to fall in exports from major countries and in some cases plunging sharply”.

He adds, “China has witnessed negative growth in exports since November 2008 and shipments declined by 17.5 percent in January. The grim situation will worsen if trade protectionism measures are undertaken by more and more countries and will result in unpredictable consequences”.

Chen Deming continued, “China will not adopt trade protectionism and will continue to expand imports, but at the same time organise cooperative style large scale procurement of raw material, equipment and machinery to get the best prices in 2009 for the benefit of the private and state owned companies in China”.

On February 24, Mr Chen Deming led a Chinese trade and investment promotion mission to Europe which included nearly 200 entrepreneurs. They will launch a series of promotional activities and measures in Germany, Switzerland, Spain, and Britain, with regards to international trade and investment.

The Chinese government is also expected to organize similar campaigns in the North and South American markets, Asia and African countries in 2009. Experts point out that effect of protectionism will begin to show its effects only after 2-3 years from the beginning of recessionary trends.

So they affirm, the trade protection measures undertaken by different countries, is still in its infancy and may begin to show its impact, only after a period of 2-3 years, after which they predict a picture which will have no parallels till date in history.

Fibre2fashion News Desk - China


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Top executives
Textile industry, India

The event should be organised every year

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search