The world’s leading economies have broken pledges to refrain from protectionism with a string of new restrictions on trade and investment, according to two authoritative reports.
The World Trade Organisation and Global Trade Alert, a monitoring service co-ordinated by the Centre for Economic Policy Research think-tank, said yesterday that the Group of 20 nations had continued to implement a steady stream of trade restrictions since making their collective commitment last November.
“On average a G20 member has broken the no-protectionism pledge once every three days,” said Simon Evenett, professor of trade and economic development at the University of St Gallen in Switzerland, who co-ordinates Global Trade Alert.
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