The problem is that this policy mix is incompatible with global economic leadership at a time when China has little choice but to become a global leader. Beijing can't expect its trading partners to accept indefinitely a flood of Chinese exports without opening its own market to their goods. Hence it is in China's own interests to restrain industrial-policy activism and its protectionist spillover. And it should proceed with "WTO-plus" reforms that move beyond the letter of its accession commitments. It could further reduce applied import tariffs, especially on industrial goods. It should reverse export controls on raw materials and agricultural commodities.
问题在于,中国的这种政策组合与其全球经济领导地位是不协调的,中国目前几乎别无选择,只能成为全球领导者。北京不能指望其贸易伙伴无止境地接受中国出口商品的大量涌入,而中国并不向它们的商品开放市场。因此,遏制工业政策中存在的激进主义和贸易保护主义所带来的副作用是符合中国自身利益的。而且,中国应当继续推进 “超WTO”改革,不仅仅局限于当初加入世贸时所做的承诺。中国可以进一步降低已经实施的进口税,尤其是对工业产品所征收的进口税。中国应当取消对原材料和农业初级产品的出口控制。
China's more substantial challenge is to tackle high trade-related domestic regulatory barriers in goods, services, investment and public procurement. These measures should be hitched firmly to domestic reforms to improve the business climate and to "rebalance" the economy—to make it more consumption- and less investment-oriented, with more freedom for the private sector and less public-sector control.
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