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Article: China tries to boost exports, risking backlash
- Article from:
- AP Worldstream
- Article date:
- March 31, 2009
- Author:
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Alarmed by falling trade, Beijing is trying to boost exports and avert more job losses by giving companies tax breaks and other aid _ a tactic that could anger Washington and other trading partners.
Beijing wants to increase exports or encourage companies to use more Chinese goods instead of imported products in industries including textiles, steel and petrochemicals. That could pump more goods into glutted markets and hurt U.S., European and Asian competitors at a time when economists are warning against one-sided measures and say demand is so weak that price cuts alone cannot boost sales.
"There are some protectionist tendencies out there, so if China is seen as ...