The following is excerpted from the 14 October 2011 edition of Industry Week.
China's Premier Wen Jiabao on Friday said rising protectionism is damaging the global economy, days after the U.S. Senate passed a bill aimed at punishing Beijing for alleged currency manipulation.
Wen made no specific mention of the United States, but his remarks followed a storm of protest in China over the bill, which Beijing has warned could start a trade war between the world's top two economies.
"What is worrying is that ... trade protectionism is rising sharply," Wen told exporters in a speech carried on state television. "Trade protectionism will only slow the pace of world economic recovery."
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