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How China coped with influx of “Western overcapacity” after WTO accession

2024-12-12 13:28   Xinhua

  Looking ahead, while import competition may continue to unsettle some, it is not enough to obscure the broader benefits of free trade.

  “Protectionism is not an effective policy for protecting workers, as it often leads to unintended consequences. For instance, while higher tariffs may protect jobs in import-competing sectors, they can also jeopardize jobs in sectors that rely on intermediate inputs or are export-oriented if trading partners retaliate,“ according to a recent WTO blog.

  Facts have proven that adhering to the path of mutually beneficial and win-win development is the fundamental way to maintain the prosperity of the world economy, Huo said.

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