Global Trade Growth Is Slowing Down. How Does The Ministry Of Commerce Respond?

In recent years,

The growth rate has generally slowed down. This year is the fourth year when global trade growth is less than 3%.

Zhang Shaogang, director of the Department of international affairs of the Ministry of Commerce, said at a press conference of the G20 trade ministers conference on 30, that the high level of trade protection measures is an important reason for the slowdown in Global trade.

As the host country of this G20 summit, China advocates G20 to extend its commitment to trade protectionist measures until 2018.

It includes two aspects, one is to promise not to adopt new trade protectionist measures, and the two is to gradually reduce and cancel the trade restrictive measures that have been adopted.

Zhang Shaogang said that China called on Member States to strictly implement every new one.

The obligation to be notified to WTO also continues to authorize WTO, OECD and the joint China World Trade Center conference to issue two monitoring reports each year to form supervision pressure on trade protectionism.

Zhang Shaogang said that opposition to trade protectionism is a historic commitment of G20 leaders. But in reality, the protection measures of some major economies have not stopped.

According to the WTO, OECD and joint China World Trade Center conference regularly issued a monitoring report on trade protectionism measures for G20 members, from October 2015 to May this year, G20 trade protectionism has risen.

During this period, the average monthly G20 members are newly taken.

Up to 21, the highest monthly number has been released since the monitoring report was released in 2009.

In the era of economic globalization, trade protection is not only bad for world economic growth, but also a shadow for Global trade development.

Zhang Shaogang pointed out that as a representative of the world's major economies, G20 should shoulder the responsibility of promoting global economic recovery and growth.

Through the above initiatives, China hopes to join G20 in strengthening trade protectionism and promoting global trade as soon as possible.