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An EU-US trade war in the making? March 31, 2009

Posted by Sverre in : Political economy, World politics , 2comments

I was listening to an LSE podcast of a lecture by French Minister of State for European Affairs Bruno Le Maire, when I heard some surprising statements made. He was talking about how it was important for European nations not to resort to protectionism in the face of the current crisis when he happened to make some interesting, possibly disturbing, statements. He talks about the difference between protecting your industries and protectionism. I can’t spot the difference, can you?  (from approiximate 1h10min into the speech):

[…]so I am not in favour of protectionism, as I just said, I am just in favour of European measures – measures decided at the European level – that would prove to our citizens that we are taking into account their fears and worries and that we are trying to protect our European economy, that we are trying to protect our industries. This is a very difficult balance we have to find, but this is not protectionism. Protectionism means today that the UK would take some very concrete measures just to protect one of its plants, in New Hampshire for example, or London. Or that France would take some very national measures just to protect one of its industries or one of its plants in Normandie or the south of France without taking into account the interest of the UK and Germany and Spain and Italy. That’s the difference between the two ways of protectin industries and protecting our economies[…] (more…)