Buzzword|Protectionism 保护主义

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Photo/Screenshot from CGTN

China's Ministry of Commerce issued the "Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures" on Jan 9, and said the order would take effect immediately.




It is common knowledge that international trade is challenged by rising unilateralism and protectionism. Some countries, especially the United States, unjustifiably prohibit some Chinese citizens, legal persons and other organizations from engaging in normal economic and trade activities with a third nation or region.




With this background, China's Ministry of Commerce decided to promulgate rules to protect the legitimate rights and interests of Chinese enterprises and citizens.




Blocking improper extraterritorial application of foreign laws and measures is not unique to China. The European Union, Canada and Mexico have formulated similar legislation. Since the 1990s, the United Nations has asked countries to revoke improper extraterritorial application of foreign laws and called for members to refuse to apply such legislation.




Related expressions

unilateralism  单边主义 (请戳往期链接)

trade barrier   贸易壁垒

multilateralism  多边主义 (请戳往期链接)

open world economy  开放型世界经济

Collected and edited by Lv Yun

Source:  China Daily