Championing free trade

First of all, the free trade system is essential for global economic stability and growth, especially for China. The United States was the initiator and has been the leading advocate of the world’s multilateral and liberal trade system after the end of World War II. But, currently, China is assuming a leading role as a flag-bearer for free trade.

Although its influence on international trade rules remains strong, the United States has been dragging its feet when it comes to liberalizing multilateral trade or reducing its trade barriers. Instead it has focused its efforts on promoting regional economic groupings excluding major trading powers it sees as threatening.

A case in point is the blatant attempt by the United States to push for a Trans-pacific Partnership Agreement (TPP) that excludes China. Besides this, calls for protectionism have increased in the United States to an unprecedented level.

For its part, China has chosen a fundamentally different approach. True to its status as the world’s leading trading country, over the past few years China has been lowering its trade barriers on its own initiative and has spared no efforts in seeking to advance the talks at the Doha Round of Trade Talks.

Furthermore, China’s objective has never been to maintain at all costs its leading trading status vis-à-vis smaller partners. On the contrary, it has used its bilateral and regional free trade agreements