Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping

Home >> Business
UPDATED: 11:05, March 25, 2006
China not to blame for huge U.S. trade deficit: WTO official
font size    

A senior World Trade Organization (WTO) official said on Friday in Geneva that China was not to blame for the huge U.S. trade deficit and Washington could not solve this problem through protectionism.

"Trade imbalance with China has given rise to certain proposed measures in the Congress, and clearly the U.S. administration is watching that particular imbalance rather carefully," said Clemens Boonekamp, director of the WTO's Trade Policy Review Division.

"But it's not bilateral imbalance that you need to worry about, and to put it in more economic terms, the actual overall trade imbalance, the current account imbalance, is a result of policies elsewhere," Boonekamp told reporters after the WTO's three-day policy review of the United States.

Boonekamp reminded reporters that the U.S. administration and the Congress were actually divided on the U.S.-China trade deficit issue.

"I don't think the U.S. administration is actually blaming China. There is, however, a lot of political pressure, political noise particularly in the Congress that says China is to blame for this in some way or another," he said.

The official said the current situation with China was in some way a repeat of what happened with Japan in the early 1980s, except that that the U.S. was not taking the same kind of measures that it took very quickly against Japan.

"The U.S. administration is certainly resisting what's taking place in the Congress at the present moment," he noted.

According to the official, nearly all WTO members expressed their concerns about the U.S. "twin-deficits" during the three-day policy review meeting.

The WTO members also expressed worries that the U.S. fiscal and trade imbalances might give rise to protectionist sentiments.

Asked whether he had given some direct recommendations to the U. S. on the imbalances, Boonekamp said he had only indirect suggestions: protectionism is not an answer.

"This clearly is a macroeconomic phenomenon, part of the global trade imbalance phenomenon, and not a problem to be addressed by trade protectionism," he stressed.

Source: Xinhua


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this


   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
- Concern voiced over US trade policies

- US official upbeat on trade ties with China

- WTO report addresses trade surplus


Manufacturers, Exporters, Wholesalers - Global trade starts here.
Copyright by People's Daily Online, all rights reserved