Word: protectionists
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...Just how protectionist will Europe get as the recession bites? So far, there's no obvious answer to that important question. Some European leaders have expressed concern about the region's protectionist reflexes, while others are already talking about ways to fence in their economies. In a few special cases, leaders appear to be doing both...
...American virtues into the fabric of his urgent priorities. "In the 21st century," he said, "security and prosperity at home depend on the expansion of liberty abroad." This was one more formulation of Bush's central philosophy, which he said is threatened by the rise of an isolationist and protectionist mood. "If America does not lead the cause of freedom," he continued, "that cause will...
...continued currency reform," as a Treasury spokesman put it. The RMB has recently weakened against the dollar, raising global alarm bells that China might try to devalue it as a way to revive its gasping export sector, putting pressure on other exporters to weaken their currencies and stirring up protectionist sentiment in Washington - particularly among U.S. labor unions, which heavily backed President-elect Barack Obama. For its sake, China blandly replied that the recent fluctuations in the RMB market were in line with market forces...
...which would make Chinese goods more price competitive abroad. If China triggered a wave of devaluations from other East Asian countries that are its export-market competitors, most economists believe the result could be catastrophic, increasing deflationary pressures in the developed world and quite possibly leading to protectionist measures that would add immeasurably to the already grim problems of the global economy...
...Buiter says tough economic times inevitably increase the risk of protectionist policies, including state aid to struggling companies. "Anything that smacks of subsidies is protectionist in consequence and often intent, and can raise temperatures," he says...