Unilateral protectionist measures hurt global economy — SCO Secretary General

Business & Economy March 24, 2022, 21:10

It is noted that in recent years, some countries have taken a number of unilateral, protectionist measures, including imposing sanctions, tariff and trade wars, stigmatization, and others

BEIJING, March 24. /TASS/. The countries of the Shanghai Cooperation Organization (SCO) oppose unilateral and protectionist measures that harm the global economy, SCO Secretary General Zhang Ming said in an interview with TASS.

"Speaking of the serious difficulties and challenges facing the global economy, I must mention another factor [other than the pandemic] that is having a devastating effect on the global economy," he said.

"In recent years, some countries have taken a number of unilateral, protectionist measures, including imposing sanctions, tariff and trade wars, stigmatization, and others," he continued. According to the Secretary General, "they caused enormous damage to global production chains, supply chains, capital flows, and investment activities, and also affected the energy market."

"This hit the global economy in a major way, and continues to damage the socio-economic situation more and more in a growing range of countries, not to mention the fact that it hits the very initiators of these measures like a boomerang," he added.

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