Word: protectionists
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...Bush's closed meeting with Fox, a senior Administration official says, the U.S. President told the Mexican one that there is an "unsettling" undercurrent of isolationist and protectionist attitudes in the U.S. "It's an emotional issue," Bush told Fox but predicted, "I think we will get something" out of Congress on immigration. The two talked nuts and bolts of legislative strategy, with Bush saying the plan is to get a comprehensive immigration bill from the Senate, then add some of those elements to the House's security bill when the two versions reach a conference committee. A White House...
...Rising disenchantment with the Iraq war, especially in Prime Minister Tony Blair's ruling Labour Party, is only one cause of recent strains in the U.S. British relations. The political firestorm in Congress over the Dubai ports deal, and the protectionist sentiment that seemed to drive it, has alienated otherwise friendly conservative members of Britain's business class. Congress's continuing refusal to pass a bilateral extradition treaty that the British approved three years ago hasn't helped matters, since it makes it easier for the U.S. to extradite white collar criminals from the U.K. than vice versa. Adding insult...
...direction of further improvement." It was not to be. World War I brought the modern world's first great era of globalization to a jarring halt; trade atrophied, and legislation like the Smoot-Hawley tariffs passed by the U.S. Congress in 1930 gave a legislative imprimatur to protectionist sentiment...
...takeover law that gives the government a veto on deals in 11 sectors of the economy deemed to be strategic. They include biotechnology, arms manufacturing and casinos. But de Villepin's boss, President Jacques Chirac, blustered last week that it was "absolutely absurd" to think of France as protectionist, and he has a point. For much of the 1990s, France was the largest recipient of foreign investment in the European Union; by the end of 2003, one in seven French employees worked for a foreign company, compared with just...
...when the French throw a hissy fit and race to protect their vital national yogurt industry, as they did last year, or when pundits pretend it matters which European Union country owns what gas utility. But a trade war between the U.S. and China?with each side taking punitive, protectionist steps to shut out the other's products, services and investments?poses a real danger to the world's biggest economy (the U.S.) and the world's fastest-growing economy (China). Together, the two countries have accounted for nearly half of total global economic growth since 2002. China...