February 2, 2009
Protectionism and Crisis
World leaders at Davos expressed concern over American protectionism in our new economic crisis relief packages. They are worried about 1) "Buy American" policies in Public Works projects; 2) "Loan American" pressure on banks recieveing bailout money; 3) Tax subsidies to exporting businesses that give aid in competition with foreign businesses; and 4) "Borrow American" or "Buy Only American Treasuries" effect on government debt issued by other countries. They are correct to worry.
February 2, 2009 | Permalink
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