Word: protectionists
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...still lurking, of course. Oil prices have dropped back recently from $70 to the low $50s, but they are still far higher than just a few years ago, and other commodity prices have soared, fueling inflation. Business leaders across the world are also watching nervously for signs of a protectionist blast from the new Democratic-majority Congress in Washington. Isolated cases of protectionism abound on both sides of the Atlantic: in December, the U.S. Department of Transportation turned down an application by Virgin America, a start-up airline partly owned by British billionaire Richard Branson, to begin domestic U.S. flights...
...moment, these risks seem manageable. Central banks, especially in Europe, have been raising rates to head off inflation. And there are several initiatives underway between Europe and the U.S. that aim to counteract protectionist pressures at home and abroad. German Chancellor Angela Merkel visited Washington this month to push a plan that would harmonize investment and trade rules across the Atlantic. And the European Union and the U.S. recently got back together in a new and perhaps final attempt to salvage the World Trade Organization's Doha Round of negotiations. "We are in the endgame," says Peter Mandelson...
...first globalization, from 1850-1914. There were lots of small wars then: the Crimean one, the wars of German unification, a spate of long-forgotten battles over the Balkans, skirmishes from one end of Africa to another and throughout Southeast Asia. Yet international trade and investment prevailed over protectionist sentiment...
...Protectionist sentiments seem rampant in Europe. How will you keep that in check? Protectionist sentiment is not rampant in Europe. Europe's economy remains the most open in the world to trade and investment. There have been a number of high-profile cases related to national protection in sectors like energy, but that is a particular issue. There is anxiety about the impact of low-cost imports of products like shoes and textiles from countries like China, but Europe has also benefited from these low-cost consumer goods. That is why we have to make the case for openness...
...California aerospace industry, and a low unemployment rate of 4.6 percent in September 2006, the U.S. is hardly overflowing with high-skill people out of work. Since the number of foreigners allowed to perform specialty occupations is not capped out of reasonable concern for national welfare, it is a protectionist measure that ends up telling many of our country’s hardest working specialists: “Go home.” The U.S. economy is strong largely because of its ability to attract and retain highly skilled scientists and engineers from abroad. The use of H-1B visas...