Protectionism 2.0 Threatens Global Trade, Reshapes Economic Landscape
In the article "Protectionism 2.0: New Reality in the Age of Globalisation," the new phase of protectionism is explored. It's not just about opposing globalization but creating a new form of protectionism called protectionism 2.0. The US is using import duties strategically to pressure major economic partners for long-term trade balance. They aim to reshape trade tools to benefit their own business in the global market. The US is also pushing to ban traditional protectionist practices by other countries while focusing on changing the status of developing nations in trade agreements. The article suggests that these changes signal a significant shift in the world trade system, with the US striving to maintain its economic dominance by leading future reforms in international trade and finance systems.