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Economist hits out at trade protectionism

Economist hits out at trade protectionism

Write: Prima [2011-05-20]
Economist hits out at trade protectionism

Huawei Technologies Co Ltd, one of the world's largest manufacturers of telecommunications equipment, has encountered some "political difficulties" in penetrating the US market. [Photo / Bloomberg]

NEW YORK - A top Chinese economist has condemned trade protectionism, saying that a free flow of trade between China and the United States will benefit both economies.

Professor Zhang Weiying, of Peking University, said he thinks trade protectionism is bad, "whether in China or America".

Zhang, who is in New York for the China-US Business Leaders Roundtable from April 5 to 8, also said that the US government and people do not trust State-owned Chinese companies.

"That's why Chinese private companies generally face less restrictions as compared with State-owned companies in their expansion in the US," Zhang said.

More Chinese companies are now seeking investments in the US as they go global to become bigger players in domestic markets through mergers and acquisitions or joint ventures with overseas partners, he said.

Source:China Daily