China Urges India to Show Restraint on Trade Remedies
The Wall Street Journal reports on how the global economic slowdown may affect Sino-Indian trade relations:
China’s Ministry of Commerce on Monday urged India to exercise restraint and care in applying trade remedies against Chinese products, saying a failure to do so would severely affect trade ties.
The trade tensions between India and China, whose export falloff is hurting economic growth and employment, come amid a rise in trade protectionism as nations seek to weather the global downturn.
India has started 17 investigations into Chinese imports since October, restricted imports of Chinese steel, textiles and petrochemicals, and last month banned imports of Chinese toys for six months, Commerce Ministry spokesman Yao Jian said.