"CHINA'S STANCE" HAILED

China's firm stance on anti-protectionism amid the contagious financial crisis has also sparked positive world reaction.

Kazuo Furukawa, president of Japan's electronics giant Hitachi Ltd, said in a written interview with Xinhua that China's anti-protectionism stance should be lauded as trade protectionism will only aggravate the ailing world economy.

He said protectionism holds a horrified fascination at a time when the financial crisis has taken a heavy toll on the world's economies, where employment rates have constantly been shrinking.

Job opportunities will become even more scarce if protectionism triggers further shrinkage in world trade, Furukawa said.

He said that in this respect international cooperation and anti-protectionism that China advocates is of great significance and should be applauded by the international community.

Furukawa believes that to eliminate the adverse effects of the financial crisis, world economies should restore mutual trust and confidence.

If China's stance can prompt other countries to follow suit, and thus boost mutual trust and confidence, which will stimulate the economy and increase trade opportunities, China will surely have made an enormous contribution to the world to combat the economic crisis.

Gurria expressed similar sentiments on China's stance.

He said it is right the Chinese government has objected to protectionism in trade and capital flows.

Gurria said opening up domestic and international markets can promote trade competition and create wealth, and it is also a prerequisite for economic recovery and long-term development.

He said China's policy of opening-up and emergence in the global economy is a good example. It has boosted its economic development and reduced poverty considerably.

Zheng said China's advocacy of international cooperation to combat protectionism, demonstrates China is showing its responsibility in helping to pull the world out of the current economic mire.

He said countries across the world are enjoying increasingly close ties and are relying more on each other, adding that cooperation and anti-protectionism among them is a must in response to the crisis.

Trade protectionism will reduce cooperation between countries and make the current situation even worse, Zheng said.

China has made it clear it opposes any form of trade protectionism, and advocates international cooperation. This, Zheng said, is wise, correct and pragmatic.

(Xinhua News Agency March 21, 2009)