{"id":6128,"date":"2011-12-15T00:19:02","date_gmt":"2011-12-14T22:19:02","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/update-1-china-sees-more-protectionism-due-to-us-eu-problems\/"},"modified":"2011-12-15T00:19:02","modified_gmt":"2011-12-14T22:19:02","slug":"update-1-china-sees-more-protectionism-due-to-us-eu-problems","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-china-sees-more-protectionism-due-to-us-eu-problems\/","title":{"rendered":"UPDATE 1-China sees more protectionism due to US, EU problems"},"content":{"rendered":"

\t\t<\/span><\/p>\n

<\/span><\/p>\n

<\/span><\/p>\n

By Tom Miles<\/p>\n

<\/span><\/p>\n

GENEVA<\/span> Dec 14 (Reuters) – China expects trade
\ndisputes to increase next year as global markets contract due to
\nEuropean and U.S. economic weakness, China’s trade minister Chen
\nDeming said on Wednesday.<\/p>\n

<\/span><\/p>\n

“There is a possibility of trade protectionism getting more
\nserious next year, because next year we expect the global market
\nmight contract,” Chen told a news conference of BRICs trade
\nministers in Geneva.<\/p>\n

<\/span><\/p>\n

“If we look at countries around us, for example Europe and
\nthe United States, we’re all going to face difficulties brought
\nabout by these two areas.”<\/p>\n

<\/span><\/p>\n

Chen was speaking on the eve of the World Trade
\nOrganization’s ministerial conference in Geneva, an event held
\nevery two years, and after China announced it would slap duties
\non large cars and SUVs imported from the United States. He did
\nnot refer to that case.<\/p>\n

<\/span><\/p>\n

“China has made a promise to free trade and we will honour
\nour words. We have said we will not abuse trade remedy measures.
\nAt the same time we do not fear others using trade remedies or
\nprotectionism. We will use the rules enshrined in the WTO’s
\nmultilateralism system to protect ourselves,” Chen said.<\/p>\n

<\/span><\/p>\n

The BRICs group comprises the rapidly growing emerging
\neconomies of Brazil, Russia, India and China.<\/p>\n

<\/span><\/p>\n

Chen said China’s own exports had been falling by about two
\npercent per month for the last three months, mainly due to the
\ncontraction in European and U.S. markets.<\/p>\n

<\/span><\/p>\n

“Therefore next year we will continue to make efforts to
\nstabilise our exports and at the same time stand against
\nprotectionism by expanding our imports continuously in order to
\nachieve a balanced trade,” he said.<\/p>\n

<\/span><\/p>\n

“In actual fact this year the total trade of China might
\nalready be quite balanced. In actual fact in the past few months
\nthe RMB (yuan) exchange rate has suffered some decrease in terms
\nof the exchange rate for forward trade.”<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2011 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

By Tom Miles GENEVA Dec 14 (Reuters) – China expects trade disputes to increase next year as global markets contract due to European and U.S. economic weakness, China’s trade minister Chen Deming said on Wednesday. “There is a possibility of trade protectionism getting more serious next year, because next year we expect the global market […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6128","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6128"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6128\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}