revue algerienne des études sociologiques
Volume 3, Numéro 1, Pages 73-94
2010-06-30
The Impact Of The Financial Crisis On Global Trade: The Threat Of Protectionism
Authors : Abdelhafid Aimer .
Abstract
Ongoing international financial crisis has caused significant harm to lots of economies and businesses and led to a large number of bankruptcies. Although it originated in the USA it has spread to other nations, generating far-reaching effects on the world economy and trade. Indeed, further companies and banks worldwide are on the verge of collapse and global trade is forecast to decline 10 % this year. To face such alarming trends, governments all over the world are injecting more funds into their economies and are struggling hard to promote trade as a crucial driver of economic growth. Moreover, many analysts are urging world leaders to avoid taking financial and trade protectionist measures to cushion the economies against the effects of the financial and economic crisis. Still, as the latter deepens anti-trade tide is feared to further undermine the recession and jeopardize the growth of the world economy.
Keywords
Crisis - Economy - Growth - Trade - Protectionism.
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