Close

Forgot your password?

Choose a newsletter




Premium access provided by ENSTA

Your premium access provided by ENSTA

Enter your email to begin

Premium access granted to you by NRC Q

You been given free premium access to Worldcrunch for 8 weeks thanks to NRC Q.

Enter your email to begin

Premium access granted to you by EM-LYON

You been given free premium access to Worldcrunch for 8 weeks thanks to EM-LYON.

Enter your email to begin

Premium access granted to you by Goldsmiths

You been given free premium access to Worldcrunch for 8 weeks thanks to Goldsmiths.

Enter your email to begin

Premium access granted to you by WorldCrunch HQ

You been given free premium access to Worldcrunch for 4 weeks thanks to WorldCrunch HQ.

Enter your email to begin

Premium access granted to you by MinnPost

You been given free premium access to Worldcrunch for 6 months thanks to MinnPost.

Enter your email to begin

Premium access granted to you by Expatica

You've been given FREE premium access to Worldcrunch

Enter your email to begin

Worldcrunch

China Bashing Is All The Rage, From Mitt Romney To French Leftists

Article illustrative image Partner logo "Those were our jobs...!" Inside a Shanghai plant of steel giant Baosteel.

PARIS - In the United States, "China bashing" is in full swing. Denigrating China has been a mainstay of the American presidential campaign, in a time of economic one-upmanship between Washington and Beijing.

During the final televised debate, devoted to foreign policy, Republican candidate Mitt Romney once again accused Beijing of manipulating its currency and violating trade rules - behavior that has resulted in layoffs and bankruptcies in the world's top economic power.

“They're stealing our intellectual property, our patents, our designs, our technology, hacking into our computers, counterfeiting our goods," said Mr. Romney, citing as an example one American manufacturer whose products were counterfeited in China and sold on the American market.

Meanwhile, across the Atlantic, after sporting a French striped sailor top to promote “Made in France” products, Industry Minister Arnaud Montebourg, spoke of catastrophic consequences after China's integration into the World Trade Organization (WTO) in 2001.

"China was allowed to enter the WTO without anything in exchange," he proclaimed, deploring the hundreds of thousands of French people who have lost their jobs because of "unfair competition" and because of "scandalous unfair globalization."

There is surely some truth in these allegations, notably in regards to the need to better protect intellectual property and the need for China and Japan to open up their markets.

Populism and patriotism

Still, populist rhetoric and electoral arguments are not enough to hide a few truths about the West's responsibilities. Globalization has certainly not only benefited the emerging economies of Asia, of which China is at the forefront, it has allowed European (and American) companies to export to the most dynamic markets in the world.

In his crusade for economic patriotism, Montebourg also brought up the free trade agreement between the European Union (EU) and South Korea, which he says allowed automobile manufacturers to strengthen their position on the European continent.

However, as the European Commission reminded him, the agreement allowed the EU to increase its exports to South Korea by 20%. Also, it underlined that "a large part of Kia and Hyundai cars are produced in Europe."

Is it wise for a crisis-ridden Europe to fight Asian investors, when those same investors are the ones creating the jobs? The euro zone wants to reindustrialize; however, as the Robert-Schuman Foundation highlighted, it is a "victim of political unwillingness to reorganize Europe's economy, in particular national industry," in a way that would see them become more integrated yet more diverse. That's where the necessity lies - in "inventing new political, economic and industrial tools." Could this signify a new battle for Mr. Montebourg?

Sign up for our weekly Global Biz & Innovation newsletter now


Worldcrunch brings top stories from the world's best news sources into English for the first time.

- Find out how we work
- Stay connected with our newsletter
- Try premium access for just $0.99

Want to get in touch or report a bug? Find us at info@worldcrunch.com

Load More Stories

Unlimited access to exclusive journalism, the best world news source across all your devices

Subscribe Now Photo of Worldcrunch on different devices

Your premium access to Worldcrunch is provided by

University of Central Lancashire

Please register to begin


By registering you agree to our terms of service and privacy policy.