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Wednesday, 19 November 2008 08:39 |
There may not have been a lot of apparent concrete achievements from the top industrialized G20 nations recent gathering in Washington addressing the global economic woes. But the call from many to move foward with the Doha talks on trade and to resist protectionism during these difficult times should be seen as more than just symbolic.
During the recent election season in the US we saw candidates at all levels and voters blaming trade for the current crisis. As a new adminstration starts in a few months with president-elect Obama, there is a great deal of debate whether the direction the US has followed with freer trade since President Franklin Roosevelt will continue, or if election season promises to constituencies like the labor unions means we're heading the wrong way by putting up barriers to the global economy. Either way, there's a delicate political balancing act the new president will have to undertake.
But despite criticisms it is obvious that the world still looks toward the US for leadership. The message from the G20 that Doha needs to move foward and protectionism should be resisted is exactly what the new incoming administration will need to send to the world - isolationism nor protectionsm is not the answer, that we will continue to move foward for the economic benefit of all.
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