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"Protectionism is not the answer. The constructive solution is to welcome investment from #China# and boost our own exports to China," said Sebastian Wood, chair of the China-Britain Business Council, as he shared his views on China-UK economic and #trade# cooperation at the "Big Market for All: Export to China" event in London on Wednesday.
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Protectionism is surging globally, with nearly 10x more tariffs than in 2008.
The U.S. is part of the trend, but G20 peers have increased trade barriers even more.
The real risk: less free trade, higher costs, and a poorer global economy.
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Germany's Merz to relay Asian partners' protectionism concerns to Brussels
Germany's Merz to relay Asian partners' protectionism concerns to Brussels
At a time of rising unilateralism and protectionism, China remains as committed as ever to further opening up.
China does not seek to move faster by going alone. Rather, we want win-win cooperation with all countries so that we can go far together.
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China trade accord with Swiss bucks wider trend towards protectionism
Former WTO head Pascal Lamy still prefers negotiated rebalancing to protectionism, but he now acknowledges that if China will not rebalance, European governments may be forced to implement protectionist tariffs.
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GERMAN CHANCELLOR MERZ SAYS PUSHED BACK AGAINST FEARS OF NEW WAVE OF EUROPEAN PROTECTIONISM ON ASIA TRIP
Ontario Premier Doug Ford said Canada must prepare for the possibility that US trade protectionism will last well beyond President Trump’s administration
CHINA MOFCOM: URGES FRANCE, GERMANY NOT TO BACK EU TRADE PROTECTIONISM