The risk of a new protectionism - International Herald Tribune: "That worry is widespread. 'Large economies are accessing international capital markets for themselves,' said Trevor Manuel, the finance minister of South Africa. He wants the big countries to share the borrowed wealth, but fears they will not.
Adair Turner, the chairman of Britain's Financial Services Authority, voiced the same concern, calling it 'the risk of a new mercantilism,' centered on credit availability rather than trade.
'It is not easy to avoid this,' he added. 'It could get out of hand.'"
Wednesday, February 4, 2009
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