Asian Countries Worry About Protectionism
Asian countries are increasingly concerned that popular anger in the U.S. and Europe might hurt their exports and lead to a global economic slowdown.
Voters in industrialized countries are frustrated with job losses in industries such as steel and automobile manufacturing. Many blame the losses on globalization and free trade policies.
These were reportedly major issues in the British vote to leave the European Union. They also have been energetically discussed in the U.S. presidential election.
Some experts are calling these concerns protectionism, or seeking to protect or block off a country's market from foreign businesses.
Frederic Neumann co-directs Asian economics research for HSBC Bank in Hong Kong. He said, "Rising protectionism could throw sand in the wheels of the global trading system and so start to gum it up."
Effects of Britain's vote on world markets had results
The vote in Britain resulted in wild changes in financial markets around the world.
Major East Asian countries were no exception. They reacted with short-term economic measures meant to stabilize their markets because of the June 23 vote.
South Korea ordered an increase in government spending. China let the value of its currency fall. And Japan has said it is considering taking measures if the value of the Japanese yen continues to rise.
However, reaction in Asia to the heated disputes over trade in the West, especially in the U.S., has been somewhat muted.
Peter Drysdale heads the East Asian Bureau of Economic Research at the Australian National University's Crawford School of Public Policy. He said anxiety in Asia is eased by the perception that a more thoughtful discussion will develop over time.
"The rhetoric coming out of the political campaign in the United States of course does disturb policy leaders elsewhere in the world including Asia," Drysdale said.
Both parties voice opposition to free trade deals
U.S. Republican presidential candidate Donald Trump has attacked free trade agreements (FTA) during his campaign.
He called for renegotiating or withdrawing from the North American Free Trade Agreement, known as NAFTA, with Canada and Mexico. He also said he opposes the Trans-Pacific Partnership (TPP). That trade agreement includes the United States and 11 other Pacific countries.
Trump has criticized trade deals, but he is not alone.
The Democratic Party presumptive nominee for president, Hillary Clinton, also voiced opposition to the TPP during her campaign.
She has, however, supported free trade agreements in the past. She spoke in support of the NAFTA deal as first lady of the U.S. with her husband, former president Bill Clinton. He signed the agreement into law in 1993.
Clinton also supported the TPP when she was President Barack Obama's secretary of state. As a presidential candidate, however, she said the final version was not good for American workers.
Some experts see her change in position as, at least partly, a reaction to her opponent in the primary elections Bernie Sanders. He has been outspoken in his opposition to trade deals.
However, President Obama is hopeful that the U.S. Senate will approve the TPP after Congressional elections in November.
Economists said Asian countries could take further measures to open up their economies and increase investment in Western countries. Drysdale said this could ease anti-trade anger in the West. He added that is already happening to some extent.
"Investors in India and China and elsewhere in the region are looking to put plants and investment into industrial countries and the United States in particular," he said.
Frederic Neumann of HSBC said American companies do complain of complex regulations blocking market access to Korea although an agreement is in place.
Officials in Seoul say South Korea has a trade surplus of about $10 billion with the U.S. But, they note that South Korean companies invest more in America than U.S. companies invest in Korea.
Last week, Republican candidate Trump took specific aim at the U.S. free trade agreement with South Korea. He said the deal doubled the U.S. trade deficit with its East Asian ally and lost nearly 100,000 American jobs.
I'm Mario Ritter.
1.economic slowdown 经济下滑
The speed of economic slowdown in Asia also makes people worry.
2.open up 打开；开创
They decided to open up an office in town.
3.block off 阻挡
I'd have knocked her block off if she had said that to me.
4.free trade 自由贸易
East coast shipowners advocated free trade.
1.Asian countries are increasingly concerned that popular anger in the U.S. and Europe might hurt their exports and lead to a global economic slowdown.
lead to 导致；通向
Blindly copying others might very well lead to losses.
Her poor French often lead to misunderstandings when she visits France.
2.Some experts are calling these concerns protectionism, or seeking to protect or block off a country's market from foreign businesses.
seeking to 寻求；想办法
They are seeking to mislead us.
People have all along been seeking to prolong life.
工业化国家的选民对钢铁和汽车制造等行业的裁员感到沮丧 。许多人将其归咎于全球化和自由贸易政策 。
据报道，这些是英国公投遇到的主要问题 。也是美国总统大选中一直被热议的话题 。
范力民（Frederic Neumann）是汇丰控股驻香港亚洲经济研究部门共同负责人 。他说，“正在上升的贸易保护主义情绪可能破坏全球贸易体系，甚至会导致体系瘫痪 。”
主要的几个东亚国家也不例外 。因6月23日的英国公投，这些国家采取了短期经济措施来稳定市场 。
韩国政府下令增加政府开支 。中国下调人民币汇率 。而日本则表示，若日元继续升值，会考虑采取措施 。
彼得·德莱斯戴尔（Peter Drysdale）任职于澳大利亚国立大学克劳福德公共政策学院东亚经济研究局 。他说，随着时间推移将会出现更理性的观点，这将缓解亚洲各国的焦虑情绪 。
美国共和党总统选举人唐纳德·川普（Donald Trump）在竞选期间曾抨击过自由贸易协定 。
他呼吁美国与加拿大、墨西哥重新就北美自由贸易协定进行谈判或者干脆放弃 。他还反对跨太平洋伙伴关系 。这一贸易协定涵盖美国和其它11个太平洋国家 。
民主党假定总统提名人希拉里·克林顿（Hillary Clinton）在竞选期间也表示反对跨太平洋伙伴关系 。
然而，过去她曾支持自由贸易协定 。担任美国第一夫人时，她同丈夫前总统比尔·克林顿(Bill Clinton)公开支持北美自由贸易协定 。比尔·克林顿于1993年将该协定签署为法律 。
希拉里就任奥巴马政府的国务卿时，她也支持跨太平洋伙伴关系 。然而作为总统候选人，她表示该协定的终稿对美国工人不利 。
一些专家认为其立场的转变某种程度上是对初选竞选对手伯尼·桑德斯（Bernie Sanders）的回应 。桑德斯一直明确反对贸易协定 。
经济学家表示，亚洲国家可能会采取进一步措施开放本国经济，增加对西方国家的投资 。德莱斯戴尔表示，这会缓解西方国家反贸易的情绪 。他补充说，从某种程度上这已然实现 。
首尔官员称，虽然韩国对美国的贸易顺差约100亿美元 。但是他们指出，韩国企业在美国的投资远超美国企业在韩国的投资 。
上周，共和党候选人川普专门就美韩两国的自由贸易协定进行攻击 。他说，该协议让美国同东亚盟国的贸易赤字翻了一倍，造成美国近10万个就业机会的流失 。