EU lawmakers' rejection of China's MES protectionist
Updated: 2016-05-16 10:26
A file photo of Long Yongtu, China's former chief negotiator for World Trade Organization (WTO), delivering a speech in a forum on Dec 19, 2014. [Photo/VCG]
BEIJING - A recent resolution of the European Parliament denying China market economy status (MES) goes against globalization and signals the heavy presence of trade protectionism across the world, China's former chief negotiator for World Trade Organization (WTO) entry Long Yongtu said Sunday.
The non-binding resolution passed on Thursday urged the European Union (EU) not to grant China market economy status, citing China's failure to fulfill five EU criteria.
The European Parliament made the resolution in the interests of European nations, but it chose the wrong topic and target, Long, former Chinese vice minister for trade, said at a forum on China and globalization.
A country does not need anyone else to recognize whether it is a market economy or not, Long said, stressing the European Parliament resolution is in essence protectionist and anti-globalization.
China's entry into the WTO has given people in many countries access to both inexpensive and fine-quality Chinese products, he added.
The resolution does not mean something has gone wrong with China's MES, and neither will it have any real impact on China, said Zheng Yongian, director of the East Asian institute at the National University of Singapore.
The rise of populism in European and American countries that are now facing tremendous economic difficulties has taken the form of protectionism in external trade, Zheng noted.
China has replaced these countries as a main driver of globalization, and will remain so in the future, he said.
Long also stressed the importance of continuing globalization, saying that China will have a favorable environment for opening up only if globalization is sustained.