Home / Knowledge / News / Textiles / China hit hardest by trade protection rules
China hit hardest by trade protection rules
14
Mar '11
China has expressed its displeasure against trade protection rules of WTO and trade frictions against China by some countries. At the meeting to commemorate tenth anniversary of China's accession to the WTO, ombudsman Song He Ping from Import and Export Fair Trade Department of the Ministry of Commerce forecasted that China would be the hardest hit country by trade protection rules of WTO during the Twelfth Five-Year Plan period too.

At the meet organized by CCPIT on March 1, 2011, for the Chinese business community, he told that with China becoming to a great trading power, trade frictions would go up. He advised on being alert about three traits: long term, necessity and complexity

According to reports, world economy is on a path of recovery, but trade protectionism is still a major obstacle and China has become not only a target country but a victim of trade protectionist countries. Because of international financial crisis, major economies are very cautious and their economic recovery process show further differentiation with trade protectionism at rise.

As per available data, China's share in world export is 9.6 percent but China suffered a lot because of harsh WTO rules as 40 percent of anti-dumping cases are against China. Not only that, but 75 percent of countervailing cases and 43 percent of total investigation cases worldwide during the same period are against China. In 2010 China suffered 66 trade remedy investigation cases, involving US $7.7 billion.

As trade friction becoming more politicized, international trade protectionism is at rise with some new features. First, some countries have converted their trade policy into a weapon to subsidies domestic conflicts and easing employment pressure.

They have changed domestic policies of trade partner countries by using trade friction combining their domestic policies with low carbon and other issues. Now they emphasize more on to export their own development.

Second, some countries attempt to delay growth of emerging economies through frequent trade frictions and have increased bargaining.

Third, trade friction in some non-traditional areas has greatly increased. A new front has been opened with RMB exchange rate, innovation, new energy policy, intellectual property protection, investment environment, market access, etc. becoming new hot spots of trade frictions.

In 2010 China suffered trade frictions not only from developed economies like the U.S. and EU but also from Brazil, Argentina, India and other developing countries aimed both at China's traditional industries as well as high-tech industries.

Fibre2fashion News Desk

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X