The Features And Effect Of New Trade Protectionism After The Financial Crisis And The Countermeasures Of China

After the global financial crisis in2008, the word economy ran into recession, and the unemployment rate raised constantly. In the context, many countries especially the advanced countries began to impose trade protectionism measures frequently, and the trend of trade protectionism is increasing obviously. These protection measures show some new features compared with the protectionism in the past, and have negative impact on the economy of the world and our country.Firstly, the paper analyzes the theoretical basis of new trade protectionism, which is followed by the analysis of causes of the new trade protectionism in financial crisis era. Because the word economy recessed severely, trade protection becomes a major way to promote the domestic economy and to stable employment. In addition, WTO rules imperfection and imbalances of the world economic development and rising concerns of climate issues globally also are the causes of new trade protectionism. Secondly, it summarizes the new characteristics of the new trade protectionism from the aspects of initiators, targets and measures of implementation of trade protectionism, combining cases and data analysis methods. In terms of the initiators, developing countries are more than developed countries on investigation quantities, but the latter is still the main sponsor on total value involved and it orients to the regional grouping on geographic distributions. The targets analysis includes protections to manufacturing, high and new technology and rare resources. As to the measures, it focuses on the trade remedy combinations, exchange rate, carbon tariffs and the national security. Thirdly, the paper analyzes the impacts on the new trade protectionism on China’s economy from the following aspects: effects on China’s foreign trade, industrial structure adjustment and China’s external environment and current economic policy. Finally, the author foresees the future trend of the development of the new protectionism through normative analysis and points out that there would be more and more conflicts involve Chinese products but trade war on a large scale is unlikely to happen. Thereby, the author provides suggestions on countermeasures to the new trade protectionism.