(Bad) Ideas Have Consequences
By Pejman Yousefzadeh Posted in Economy | Free Trade | Hillary Clinton — Comments (0) / Email this page » / Leave a comment »
Now that Hillary Clinton has come out foursquare in favor of protectionism, responsibly policymakers are fighting back:
Hillary Clinton, the Democratic frontrunner in the US presidential campaign, came under fire from Europe's top trade negotiator on Wednesday for suggesting that, if elected, she might not press hard for a new global trade pact.
"The apparent scepticism about a Doha world trade deal that Mrs Clinton expressed in the Financial Times this week, and her suggestion that there is a need to shelter American companies and interests from foreign investment, are a disappointing sign of the times," said Peter Mandelson, European Union trade commissioner.
[. . .]
Mr Mandelson, at a Brussels globalisation seminar, said: "Politicians have a huge responsibility not to overstate the risks attached to open investment, because we have nothing to gain from a protectionist turn in global markets."
The former high-ranking UK government minister added: "That is why I would argue that Hillary Clinton's doubts about the value of a Doha trade deal are misplaced."
More of this. Please.