As economies revive, is a surge in protectionism inevitable?

The impact of protectionism on the global trade landscape.

Moderator:
Rem Korteweg, Senior Research Fellow, Clingendael Institute

Panellists:
Chris Southworth, Secretary General, International Chamber of Commerce UK
Emmanuelle Butaud-Stubbs, Secretary General, International Chamber of Commerce France
Christian Bluth, Megatrends Project Manager, Bertelsmann Stiftung

This podcast episode was recorded on Sept 1 2020

Even before the pandemic struck, a rising tide of protectionism was eroding the global trading system. Responding to the growing scepticism of voters about the benefits of open trade, policy makers in both developed and developing economies were increasingly turning to the protectionist tool-kit – to tit-for-tat tariffs, restrictive measures, and subsidies.

The economic devastation caused by Covid-19 has only strengthened the protectionist impulse globally. In the immediate crisis countries acted swiftly and unilaterally to implement more restrictive and discriminatory trade measures, particularly in the health sector. Now the focus has shifted to rebuilding national economies, generating jobs, preserving public services, and securing living standards. As governments worldwide confront these challenges, opinion surveys in multiple countries show support for protectionism and a belief that the solution lies in “taking back control”.

In this podcast, moderated by Rem Korteweg of the Clingendael Institute, Christian Bluth of the Bertelsmann Stiftung, Emmanuelle Butaud-Stubbs and Chris Southworth from the International Chamber of Commerce discuss the impact of protectionism on the global trade landscape.

Can the protectionist tide be checked? What more can business do to strengthen the political case for bringing down trade barriers as a route to growth? And how can trade be made more inclusive and sustainable, so that the benefits of open markets are both recognised and more widely shared?

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