'New mercantilism'.(NATION)(ECONOMIC WATCH)(Column)

The Washington Times (Washington, DC) | June 9, 2009 | Copyright

Byline: C. Fred Bergsten and Arvind Subramanian, SPECIAL TO THE WASHINGTON TIMES

The global economic crisis appears to be stabilizing, with recovery clearly under way in China and likely to commence in the U.S. over the next few months. The G-20 Summit in London in early April accomplished a good deal, especially in expanding the ability of the International Monetary Fund to counter the turndown in poorer countries and recommitting the major economic powers to refrain from protectionism.

But this is no time for complacency on the international front. There ...

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