ALMOST everyone is for free trade. Protectionism is a no-no. And, gains made so far need to be consolidated especially at this time of Great Recession. Surely, no one wants to fuel a new era of protectionism a la the 1930s, put into place by the infamous US Smoot-Hawley tariffs.
At the November 2008 and April 2009 G20 Summits, both rich and emerging economies promised to eschew new trade barriers and work hard to complete the Doha round by year-end.
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