Weeds of protectionism
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Though policymakers are quick to agree at summits that the world economy is still far from the path of a lasting recovery, unfortunately, few have stood firmly enough against protectionism.
If the international community cannot fully honor its commitment of opposing protectionism right now, "green shoots" of a global recovery may be soon outmaneuvered by the weed of protectionism.
The European Union (EU)'s final ruling of imposing anti-dumping tariffs on Chinese seamless steel pipes is the latest case highlighting such a lack of sincerity and sense of urgency among some policymakers to keep down protectionism.
The Chinese side has expressed its dissatisfaction with the EU's decision to impose five-year duties, ranging from 17.7 percent to 39.2 percent based on the accusation that the Chinese imports might cause material injury or threat to local producers.
It is not only regrettable that the EU arrived at the decision disregarding a lot of facts and figures - which showed that the Chinese steel pipe exports to EU were decided by market conditions and had not affected EU steel makers.
The threat of material injury was strictly defined by the World Trade Organization (WTO) rules and was rarely cited as a reason for anti-dumping ruling practice as the WTO members were "highly prudent" in dealing with such cases.
Also, anti-dumping complaint must include accurate and adequate evidence of dumping, injury and a causal link between the two elements.
Under such circumstances, the Chinese enterprises certainly have every reason to resolutely safeguard their legitimate interests.
More disturbing is the fact that, less than a month after the United States enacted "safeguard" duties for the first time against Chinese tires, EU also made a ruling that flies in the face of facts and violates international trade rules.
At any time of recession, it is tempting for policymakers to take measures to boost domestic industries for keeping jobs at home.
And, a consensus that the world has reached as a way to balance the world economy is that some rich countries need to save more to bring their trade deficits down and some surplus countries should import more.
But all these do not justify protectionist measures, which only poison the global trade environment to derail any self-sustaining economic recovery.
Straws in the wind hint that the world economy may have put the worst behind it. Yet, the international community must not ignore the new signs of rising protectionism at its own peril.
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