Expert calls for harsher punishment on trade protectionism cases

By Jiang Wei and Wang Bo (chinadaily.com.cn)
Updated: 2009-07-04 13:53

The World Trade Organization (WTO) should make harsher punishments on affirmed trade protectionism cases to contain protectionism sentiment effectively, Hai Wen, vice president of the Peking University, said on Saturday in Beijing during the Global Think Tank Summit.

He said it is also important for countries to enhance their policy coordination to generate greater synergy to combat protectionism.

Hai suggested the five major trader powers -- the EU, China, US, Japan and Russia -- could set up an organization called 'Trade 5' to discuss trade issues and safeguard balanced trade between nations.

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