GENEVA — China's deputy minister of commerce, Qiu Hong, told a World Trade Organization session that trade protectionism is on the rise, and if tensions continue to mount, they will damage the global economy.
Last year, China's gross domestic product reached 24.6 trillion yuan, or about $3.54 trillion at current exchange, an 11.4 percent increase from 2006, Qiu said, but China also has experienced "overheated growth in fixed asset investment, excessive supplies of money and credit and imbalances in international payments in recent years."
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