WTO will fight against protectionism: LamyOctober 18th, 2011 - 12:57 am ICT by IANS
Chengdu (China), Oct 17 (IANS) World Trade Organisation (WTO) Director General Pascal Lamy Monday said the organisation will strive to prevent protectionist trends from strengthening during the current tumultuous economic times.
Lamy made the remark during his visit to Chengdu, capital city of southwest China’s Sichuan province, where he will attend a seminar on global trade, reported Xinhua.
Speaking of protectionism, Lamy said: “We have to be very vigilant of that. That is the main task of the WTO.”
Lamy praised China’s increasing effort to raise its domestic consumption and introducing other reforms for rebalancing the world economy while criticizing some western economies.
“The United States has to reduce its private expenses. Japan and EU have to reduce their public debt,” he said.
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Tags: chengdu china, director general pascal lamy, domestic consumption, economic times, global trade, japan, protectionism, public debt, sichuan province, southwest china, western economies, world economy, world trade organisation, world trade organisation wto, wto director general, xinhua