Protectionism Crippled Global Trade in 1930s, Warns Against Repeating Mistakes
The article looks at what went wrong with trade policies in the 1930s and how that relates to today's economic struggles. Governments back then made trade restrictions worse because they didn't want their money to lose value. Instead of letting currencies drop in value naturally, they put up high tariffs to limit imports. This bad move led to a worldwide drop in trade. By studying this history, we can learn how to avoid future trade problems during tough economic times.