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Protectionist actions, in particular against China, have been multiplying in recent years (see chart), even within the confines of WTO rules.
But Mr. Obama's leverage has been minimal, and in the end it may have been the threat of a Congressional bill's protectionist actions against Chinese products that convinced Beijing that it had to begin to free its currency.
Rich-world trade has recovered from the trough too, though it has not yet made up all the ground lost since the credit crunch began.Trade has not been devastated by the raft of protectionist actions taken during the downturn.
China may be no more prone than other countries — and a lot less than some — to protectionist actions breaching the spirit if not the law of the World Trade Organization.
Zero-sum thinking can take over, leading to mercantilist and protectionist policies.But while the crisis was not without its minor trade retrenchments, protectionism was, for the most part, the dog that didn't bark Trade has not been devastated by the raft of protectionist actions taken during the downturn.
Protectionist actions here and elsewhere are mushrooming.
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Faced with threats of protectionist action by Congress, the two countries agreed on a plan to devalue the dollar.
For example, it could ask for market economy status in Europe, which would reduce the scope for protectionist action against Chinese goods entering the European market.
He argued that countries that are victims of Chinese mercantilism may be right to take protectionist action.From Beijing, things look rather different.
Now, many worry that the government will be loath to take protectionist action against countries it wants as allies in the fight against terrorism.
Some of what we've learned has been thanks to the work of a network of economists who've contributed to something called the Global Trade Alert a site that tracks every sort of potentially protectionist action taken by governments.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com