w88 casino News Institute of International EconomicsSang BaichuanProfessor published an article " in "People's Daily" (International Edition)Mercantilism doesn’t work》. This isSang BaichuanProfessor’s first article published in People’s Daily in the past four years9Economic analysis articles. The article points out:The beggar-thy-neighbor w88 policy of encouraging exports and restricting imports is not essentially different from the mercantilist policies that were popular during the period of primitive accumulation of capital in Europe. ArticleDiscussed the reasons, harms, and theoretical and practical errors of the mercantilist policies implemented by the United States and other developed countries after the financial crisis,It is not conducive to the improvement of domestic industrial competitiveness, and it is also likely to cause chain reactions in other countries and regions, plunging the world into the abyss of w88 protection, dragging down the pace of world economic recovery, not only failing to create more employment opportunities, but reducing them.
The full text is as follows:
People’s Daily Economic Perspective: Mercantilism Doesn’t Work
Sang Baichuan
Since the international financial crisis, some countries have been strongly obsessed with protecting w88 and have introduced measures to stimulate exports and restrict imports. The United States first announced a plan to revitalize exports and seek to expand its exports in the future5Doubling exports during the year, using financial, fiscal and other means to support the expansion of exports, and then introducing import restrictions. Moreover, the U.S. Department of Commerce also announced14suggestions to strengthen the implementation of anti-dumping, countervailing and other w88 remedy measures. The United Kingdom regards expanding exports as an important part of its government work, while Japan strongly supports overseas sales of its companies. While committed to expanding exports, developed countries are increasingly using technical and environmental barriers to restrict imports, and even seek to impose carbon tariffs to weaken the cost advantages of developing countries' products.
This kind of w88 policy that encourages exports and restricts imports is beggar-thy-neighbour, and is not essentially different from the mercantilist policies that were popular during the primitive accumulation period of capital in Europe. Mercantilism believes that precious metal currency is the only representative of wealth. Through foreign w88, a w88 surplus and a net inflow of precious metals can accumulate more wealth. Therefore, it strongly advocates encouraging commodity exports and restricting imports. Today, the resurgence of mercantilist policies and advocacy by some countries is directly related to the high unemployment rate, rising fiscal deficits and debts, relatively sluggish domestic market demand, and difficulties in economic recovery in some developed countries under the influence of the international financial crisis. They believe that stimulating exports and restricting imports can expand the sales scale of domestic companies, increase their desire to invest and expand, increase employment, and the government can also reduce the financial burden of rescuing companies. This is unfeasible in theory and practice.
There is nothing wrong in itself with expanding exports. If the competitiveness of the product itself is improved, or if a more open global or regional market is established on the premise of fair and free w88, and the international w88 environment is improved, it is understandable to expand the scale of exports. However, by abusing government subsidies, government relief and support, distorting the market, and undermining fair and free w88 rules to expand exports, it often backfires. It not only makes the financial burden heavier, but also damages the function of the market mechanism, allowing some inefficient companies to rely on government support to survive, reducing resource allocation efficiency, and causing other countries to follow suit and follow up on policies, leading to a deterioration of the global w88 environment.
Restricting imports is even more harmful. Whether it is under the pretext of safeguarding fair w88, by adjusting the investigation methods and enforcement rules of w88 remedy measures, increasing the intensity of import restrictions, or by abusing technical w88 barriers and other means to restrict imports, it is nothing but a replica of mercantilism, which ultimately undermines global w88 rules and trading systems. Abusing w88 remedy measures and turning them into tools of w88 protectionism is not conducive to the improvement of domestic industrial competitiveness, but can also easily cause chain reactions in other countries and regions, plunging the world into the abyss of w88 protection, dragging down the pace of world economic recovery, and not only failing to create more employment opportunities, but reducing them.
On the one hand, some countries pursue the mercantilist policy of rewarding output and limiting income, and on the other hand, they label China as mercantilist. This accusation against China is completely contrary to the facts. China advocates actively expanding imports and promoting balanced development of w88; it has also taken various measures to expand imports and actively encourages the import of goods and technologies needed for domestic economic and social development and people's daily lives. The acceleration of China's industrialization and urbanization process will bring more market opportunities for other countries to expand exports to China.
