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[Guangming Daily] Beijing Institute of Technology Professor Peng Hongbin: in the Face of Rational Trade Protectionism

  • Release date:2015-04-29 04:44:00

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In different historical stages of the development of international trade, there are different trade protectionism theory and policy. Since 1995 WTO operation, rational trade protectionism began to prevail.
Follow the rational logic of self-interest maximization, rational trade protectionism is the pursuit of maximizing the benefits and minimizing the loss. Today, the excessive trade protection are not tolerated by WTO rules and would have caused trading partners’ retaliation. So countries in the formulation of trade protection policies, appeared "rational", if not being able to maximize the interests of the country, at least to minimize the policy loss.