As I was writing my last post–G20 and free trade–The Christian Science Monitor was publishing an article on virtually the same topic. Theirs though is focused on Obama and his protectionist leanings so far.
… Obama has so far equivocated on free trade, which only sets an example for other nations to resort to protectionism. He did little to keep Congress from putting a “buy American” provision in the giant stimulus bill. And he signed onto a measure that violates NAFTA by barring Mexican trucks in the US.
The article also makes the case that protectionism helped postpone recovery from the Great Depression.
The world has looked to the US for leadership in opening markets since 1945, when American officials cited protectionism as helping prolong the Depression and as a cause for World War II.
It looks like maintaining free trade was a real focus of the G20 summit. Let’s hope Obama is convinced.