WTO’s Lamy Warns Against U.S. Protectionism, Fears Over China – Bloomberg

From Bloomberg:

World Trade Organization chief Pascal Lamy lashed out against rising protectionism in the U.S., saying Congress is stirring election-year fears about China’s growing economic strength.

Increasing congressional opposition to free trade is “a worrying development,” Lamy said in an interview today at his office overlooking Lake Geneva. China’s soaring wealth is “good news for everybody, including the U.S.”

The deficit, which widened to a record $726 billion last year, has more than doubled since President George W. Bush took office. The gap is taking on greater importance in a congressional election year, with some lawmakers saying Bush isn’t doing enough to open markets in Asia for U.S. goods.

See also “China chides US for criticism over trade, yuan” from Xinhua.

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