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Rallying efforts to fight against protectionism

( China Daily ) Updated: 2017-03-21 07:31:08

At the insistence of the United States, finance ministers and central bank governors from the world's biggest economies ended a G20 meeting in Germany on Saturday without agreeing on resisting protectionism and supporting free trade.

The usual sentence - "We will resist all forms of protectionism" - was omitted from their communiqu��.

This marks a step backward and underscores the anti-globalization stance of the Donald Trump administration, which bodes ill for the countries that rely on open markets to maintain growth against the backdrop of the global economy's slow recovery. However, it will not reverse the trend of globalization as the trade in goods already accounts for almost half of the global GDP.

Rallying efforts to fight against protectionism

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