RGE - The Re-Emergence of Global Protectionism: A Newer Version of Smoot-Hawley?

RGE - The Re-Emergence of Global Protectionism: A Newer Version of Smoot-Hawley?: "As governments around the world fight rising unemployment, falling exports and bank credit crunch, and several central banks are facing liquidity traps, many are turning to restrictions that privilege national producers. These populist measures attempt to minimize growth impact, social unrest and pain from the credit crunch that poses a risk to several ruling governments, especially those facing elections soon. Furthermore, some officials hope that such restrictions will reduce the leakage of the scarce funds used in bank bailouts and fiscal stimulus to other countries."