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From Overhang To Hangover: Consequences Of Protectionist Responses To The Global Crisis For Low-Income Countries

Date Added: Jul 2009
Format: PDF

As the global economic crisis unfolds, policymakers around the world are faced with increasing pressures to resort to protectionist measures in support of domestic employment. The G20 November 2008 Summit in Washington underscored the critical importance of rejecting protectionism and pledged that "Within the next 12 months, we will refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organisation (WTO) inconsistent measures to stimulate exports", and the April 2009 Summit in London extended this pledge to the end of 2010.