Market Stalls
Another piece by Jonathan Fenby, on the threat of protectionism.
Hang on, though. Am I wrong or isn't China also an economic nationalist of the highest order? Everyone is very keen to promote China as a model of free trade, but I'm really not so sure.
Isn't China implementing protectionist policies itself - over car parts for example? How about its deliberately lackadaisical approach to patent laws? And how does China's policy on the yuan fit in with post-Bretton Woods principles of free-floating currency exchange?
At the end of the day, like it or not, we're all protectionists. Except for some reason, commentators are reluctant to admit this about China - which, developing country and WTO member or not, is singing from a different songsheet.
