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Goodbye, Free Trade; Hello, Mercantilism.(Next 2008; WORLD ECONOMICS)
From:
Newsweek
| Date:
January 7, 2008| Author:
Samuelson, Robert J.
| COPYRIGHT 2008 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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Byline: Robert J. Samuelson
As countries grow more interdependent, they're also becoming more nationalistic.
Here's today's quiz. What do the following have in common: (a) Vladimir Putin; (b) China's currency, the renminbi; (c) the U.S.-Peru trade agreement; (d) Hugo Chavez. Answer: they all reflect the "new mercantilism." It's a significant and ominous development affecting the world economy. Even as countries become more economically interdependent, they're...
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