The collapse of global trade, murky protectionism, and the crisis:

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10. Trade protection: incipient but worrisome trends 49 Elisa Gamberoni and Richard Newfarmer 11. Protectionism is on the rise: antidumping investigations 55 Chad P. Bown 12. Commodities, export subsidies, and African trade during the slump 59 Tonia Kandiero, Abdul Kamara and Léonce Ndikumana 13. G20 surveillance of harmful trade measures 65 Peter Gallagher and Andrew L. Stoler 14. Disavowing protectionism: a strengthened G20 standstill and surveillance 69 Biswajit Dhar, Simon Evenett, Guoqiang Long, Andre Meloni Nassar, Stefan Tangermann and Alberto Trejos 15. Restoring trade finance: what the G20 can do 75 Marc Auboin 16. Bailouts: how to discourage a subsidies war 81 Simon J. Evenett and Frédéric Jenny 17. Public procurement: focus on people, value for money and systemic integrity, not protectionsim 87 Steven L. Schooner and Christoper R. Yukins 18. Resist green protectionism – or pay the price at Copenhagen 93 Simon J. Evenett and John Whalley 19. Keep the trade flowing by cutting red tape 99 Gerard McLinden
Foreword Trade is not the cause of the current economic crisis, but is likely to be one of its most important casualties. The G20 Summit in November recognized this when it noted "the critical importance of rejecting protectionism and not turning inward in times of financial uncertainty" and pledged to "refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports" and agreed to "strive to reach agreement this year on modalities that leads to a successful conclusion to the WTO's Doha Development Agenda." No agreement on modalities was reached, and the agreement to conclude the Doha Round has been overshadowed by continued instability and uncertainty in the financial sector and a rapid decline in economic activity throughout the world economy. In addition, the measures designed to stabilise the financial system and reduce the severity of the recession risk creating the very barriers to trade that the November Summit agreed to avoid. These dangers were highlighted in the VoxEU ebook What world leaders should do to halt the spread of protectionism (at http://www.voxeu.org/index.php?q=node/2651) published in December 2008 and launched at meetings in Geneva and London. At the December meeting (at http://www.cepr.org/membership/meetings/2403), organized jointly with the Department for Business, Enterprise and Regulatory Reform (BERR), Richard Baldwin and Patrick Messerlin presented evidence suggesting that protectionism was indeed on the rise in a number of countries. CEPR has continued its work on this issue with support from the joint BERR-DFID Trade Policy Unit, and the Unit has contributed to the costs of producing this VoxEU.org ebook. The Trade Policy Unit welcomes a strong academic debate on the best ways to address the dangers of protectionism, which poses a very serious threat to global prosperity. While the views expressed here are those of the authors, not the UK Government, they hope this ebook will help to inform the debate over practical measures to address the problem, underway amongst policy makers, leading up to the London Summit in April and beyond. CEPR shares this hope. We thank the high level of competency displayed by Team Vox in assembling this ebook, with special thanks to Anil Shamdasani, Pierre-Louis Vezina, and Agustin Cornjeo. Stephen Yeo, CEPR Chief Executive Officer 5 March 2009, London vii
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