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China’s subsidies and price competitiveness distort trade, Pascal Lamy tells Caixin

China’s subsidies and price competitiveness distort trade, Pascal Lamy tells Caixin
Lamy says China policies distort trade

Pascal Lamy, a former World Trade Organization director-general, told Caixin that he is a deep believer in open trade but believes China’s combination of industrial subsidies, weak domestic consumption, and price competitiveness across supply chains has distorted trade.

The comment was shared by Michael Pettis, economist, professor of finance, nonresident senior fellow, and author.

Pettis has previously noted that China’s rising debt levels have limited the government’s fiscal space for broad economic stimulus. In earlier commentary, he also observed that the Greek economy experienced a drop in labor productivity alongside a shift toward lower-productivity jobs. These observations come amid ongoing debates over policy responses to economic strains.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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