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Hopes that G20 may limit protectionism

(chinadaily.com.cn)
Updated: 2009-03-26 16:15

There are hopes the upcoming G20 Summit will set policy initiatives to revive the global economy and to guard against protectionist measures, said Paul Laudicina, Chairman of the global management consulting firm A. T. Kearney.

Laudicina expressed these hopes for the meeting which starts April 2 in an exclusive interview with China Daily March 19.

But he worries promises will not be kept as illustrated in the emergency meeting held in Washington last November, as 17 of the G20 countries have since enacted protectionist measures according to a recent World Bank study.

"Part of the problem is that the benefit of globalization is medium to long term whereas the dislocation coming from it is proximate and palpable. So politicians find it much easier to react to the negative side," explained Laudicina.

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