[China Glass Network] The Global Trade Early Warning Organization recently released a report saying that over the past six months or so, 194 protectionist measures have been implemented on a global scale, and trade protectionism is on the rise.
In fact, the rise of world trade protectionism is a co-reaction to the 2008 international financial crisis. International experience shows that under the impact of the financial crisis, countries around the world generally adopt policies of internal fiscal expansion and foreign trade protection, so that the decline in trade greatly exceeds the decline in production, leading to global trade recession. This was confirmed by the 1929 Great Crisis and the 2008 International Financial Crisis. From 1929 to 1932, the world (except the Soviet Union) industrial production index fell from 100 to 63.8, a decrease of 36.2%; correspondingly, the world trade volume also rapidly dropped from 68.6 billion in 1929 to 24.2 billion in 1933. The decline rate exceeded 64.7%, almost 1.8 times the decline in the industrial production index. According to the statistics of the World Trade Organization, in the second year after the international financial crisis in 2008, the global GDP growth rate was -2.5%, and the growth rate of global commodities was -5.0%; and the growth rate of global commodity exports. Dropped to -12%.
Trade protectionism is on the rise and low-income developing countries are the first to become victims. First, although low-income developing countries have low-cost competitive advantages, they often become targets of anti-dumping by developed countries. Secondly, most of the industries that are being developed in low-income developing countries are low-end industries, which usually require government protection and subsidies, which is precisely the reason for the developed industrialized countries to conduct countervailing investigations. Again, although green trade and technology standards agreements are good for all of humanity, they are extremely unfair to low-income developing countries. In order to overcome the green barriers set by developed countries and meet the technical standards set by developed countries, low-income developing countries have to pay higher trade costs and trade conditions have deteriorated. Later, most low-income developing countries are still in the transition period from traditional economy to market economy. The world should have provided these countries with more trade opportunities so that they can accelerate the pace of transformation through trade. However, for the benefit of their own countries, developed market economies have used the institutional weakness of low-income developing countries to discriminate them in non-market economies.
The world needs long-term adjustment to get out of the shadow of the international financial crisis, and the trade protection tendency associated with the crisis is difficult to fundamentally reverse in the short term. In the face of unfavorable situations, the rational choice of low-income developing countries should not be to develop trade protectionism or abandon the development strategy of opening up, but to properly use the WTO's free trade rules to restore and promote trade development. To put it simply, it is necessary to maintain its legitimate rights and interests within the framework of the WTO agreement, and to actively open up its own market and use market-for-market methods to promote world trade to prosperity again.
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