Trade barriers no solution to crisis
Increasing trade restrictions against Chinese products signify a discordant resurgence of protectionism - a development that will not only hurt China, but also hamper global economic recovery.
Ministry of Commerce data show 15 countries and regions initiated 60 investigations against Chinese products for dumping and over-subsidizing goods and other suspected reasons in the first half of this year. The number of probes and the value of the goods, $8.276 billion, are record high.
Not surprisingly, those targeted were products of the steel, rubber, footwear, and aluminum industries, in which China has spent decades in building up some advantages. Since last year, investigations against Chinese steel products have forced them to beat a retreat from markets in more than a dozen countries and regions.