Word: protectionists
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...Washington last November, G-20 leaders pledged to set their faces against protectionism and to revitalize the moribund "Doha Round" of talks on world trade liberalization. Since then, says the World Bank, no fewer than 17 of the G-20 member nations have adopted a variety of protectionist measures - and there's no sign of any movement on reviving the Doha talks. The summiteers can be depended upon to adopt some ringing denunciation of protectionism. How much it will mean, God knows...
...didn't mention the nasty spat that has broken out between the U.S and Mexico; the U.S. has stopped a program that allowed Mexican trucks on American roads, and Mexico has retaliated with tariff increases. Said World Bank president Robert Zoellick: "Leaders must not heed the siren song of protectionist fixes. Economic isolationism can lead to a negative spiral of events such as those we saw in the 1930s, which made a bad situation much, much worse...
...reduced demand and financial flows explain the immediate cause of the downturn in trade, a different - and potentially more damaging - specter looms: the return of protectionism. In a recent report, the World Bank found that although the G-20 nations pledged themselves to avoid protectionist measures when they met in Washington last November, no fewer than 17 of them have, since then, "implemented measures whose effect is to restrict trade at the expense of other countries...
Down in Mexico, the administration of President Felipe Calderón accused the U.S. of being hypocritical and protectionist. It has a strong case. Under NAFTA, Mexican trucks were meant to be roaming some U.S. roads in 1995 and the width and breadth of the whole country by 2000. However, successive U.S. administrations could not say no to Teamster complaints that Mexican trucks were not fit for the interstates. Finally, both sides agreed on the pilot program to break the deadlock...
...consider that the United States is mistaken, protectionist and clearly violating the treaty," Mexico's Economy Secretary, Gerardo Ruiz Mateos, told a news conference on March 16. "To decide to protect their own transport sector, they have decided to affect the competitiveness of our countries and of the region, impacting many other productive sectors." (Read a story about the new world sprouting on both sides of the U.S.-Mexico frontier...