TaiShang
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EP rejects granting China's MES against globalization
China.org.cn, May 15, 2016
Long Yongtu, former vice minister of China's Ministy of Foreign Trade and Economic Cooperation, addresses a sub-forum with the theme of "Has Globalization Reached its Peak" during the 2016 Boao Forum for Asia (BFA) in Boao, south China's Hainan Province, March 24, 2016. [Xinhua/Yang Guanyu]
The non-legislative resolution passed on Thursday by the European Parliament denying China's market economy status (MES) goes against globalization and signals the heavy presence of trade protectionism across the world, China's former chief negotiator for World Trade Organization (WTO) entry Long Yongtu said Sunday.
The EU lawmakers voted on Thursday (May 12) against granting China the status of ‘market economy’, pre-empting the proposal being prepared by the European Commission. Until China has fulfilled the EU's five criteria for market economy status, its exports to the EU must be treated in a "non-standard" way, said the MEPs.
The European Parliament made the resolution in the interests of European nations, but it chose the wrong topic and target, Long, former Chinese vice minister for trade, said at a forum on China and globalization.
A country does not need anyone else to recognize whether it is a market economy or not, Long said, stressing the European Parliament resolution is in essence protectionist and anti-globalization.
China's entry into the WTO has given people in many countries access to both inexpensive and fine-quality Chinese products, he added.
The resolution does not mean something has gone wrong with China's MES, and neither will it have any real impact on China, said Zheng Yongnian, director of the East Asian institute at the National University of Singapore.
The rise of populism in European and American countries that are now facing tremendous economic difficulties has taken the form of protectionism in external trade, Zheng noted.
China has replaced these countries as a main driver of globalization, and will remain so in the future, he said.
Long also stressed the importance of continuing globalization, saying that China will have a favorable environment for opening up only if globalization is sustained.
China.org.cn, May 15, 2016
Long Yongtu, former vice minister of China's Ministy of Foreign Trade and Economic Cooperation, addresses a sub-forum with the theme of "Has Globalization Reached its Peak" during the 2016 Boao Forum for Asia (BFA) in Boao, south China's Hainan Province, March 24, 2016. [Xinhua/Yang Guanyu]
The non-legislative resolution passed on Thursday by the European Parliament denying China's market economy status (MES) goes against globalization and signals the heavy presence of trade protectionism across the world, China's former chief negotiator for World Trade Organization (WTO) entry Long Yongtu said Sunday.
The EU lawmakers voted on Thursday (May 12) against granting China the status of ‘market economy’, pre-empting the proposal being prepared by the European Commission. Until China has fulfilled the EU's five criteria for market economy status, its exports to the EU must be treated in a "non-standard" way, said the MEPs.
The European Parliament made the resolution in the interests of European nations, but it chose the wrong topic and target, Long, former Chinese vice minister for trade, said at a forum on China and globalization.
A country does not need anyone else to recognize whether it is a market economy or not, Long said, stressing the European Parliament resolution is in essence protectionist and anti-globalization.
China's entry into the WTO has given people in many countries access to both inexpensive and fine-quality Chinese products, he added.
The resolution does not mean something has gone wrong with China's MES, and neither will it have any real impact on China, said Zheng Yongnian, director of the East Asian institute at the National University of Singapore.
The rise of populism in European and American countries that are now facing tremendous economic difficulties has taken the form of protectionism in external trade, Zheng noted.
China has replaced these countries as a main driver of globalization, and will remain so in the future, he said.
Long also stressed the importance of continuing globalization, saying that China will have a favorable environment for opening up only if globalization is sustained.