Word: protectionists
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...trade, the nations of the world generally do better by building bridges rather than walls. The major trading countries have boosted annual global commerce from $60 billion to nearly $4 trillion annually over the past four decades, thanks in part to their success in reducing tariffs and other protectionist barriers. Even so, during the past decade the world's bridge-building organization, the General Agreement on Tariffs and Trade, has come under heavy fire from critics who claim it is irrelevant and ineffectual in a world of high technology, booming service industries and disparate wage rates...
...American marketplace. As a result of formal and informal quotas imposed by France, Italy, Portugal, Spain and Britain, the Japanese share of the European car market has remained steady at around 10% for the past four years. At one extreme are France and Italy, whose draconian protectionist policies have limited Japanese cars to 3% market shares. At the other is West Germany, whose laissez-faire stance has allowed the Japanese to capture 15% of that market. Lexus, which is moving cautiously into the protected European market, plans to sell only 2,500 autos on the Continent this year...
That agreement to disagree was evident on the most important topic the summiteers discussed: the high tariffs, domestic price supports and export subsidies used by many nations, including the entire Group of Seven, to protect their farmers from more efficient foreign competitors. Experts estimate that such protectionist measures cost the developed world's consumers and taxpayers some $245 billion a year. They also undercut the ability of poor countries to export their agricultural products. George Bush asked his summit partners to phase out government support for farm exports (not that Bush is sure he could sell such sacrifices to farm...
...have used the term Eurosclerosis -- the concept of a bad disease associated with Europe. Today no one mentions Eurosclerosis anymore. Instead people are asking, Are you building a Fortress Europe? That's exactly the opposite anxiety. But we are not going to build a Fortress Europe either. I oppose protectionist policies...
...March in California, more talking time than any previous U.S.-Japan summit, were a watershed. Shortly afterward came a flurry of agreements, including a pact on far-reaching structural reforms. Among other changes, Tokyo promised to ease restrictions on opening large department stores and to impose tougher penalties for protectionist bid-rigging schemes...