Protectionism Rises as Countries Become More Globally Interconnected
Global trade is boosted by organizations like the World Trade Organisation, but trade protection is still common. During the 2007/2008 financial crisis, trade protection increased. Factors like social, economic, and institutional influences affect trade protection. Economic growth doesn't necessarily lead to more protectionist actions. Countries with better institutions tend to be less protectionist. Countries that trade more are more likely to protect their trade.