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The Global Economic Threat Level: Brown
Gordon Brown, likely future leader of Britain, writes in this morning's FT on the need for extra vigilent support for free trade and open markets.
Across the world, we are seeing not only the impact of terrorism and geopolitical uncertainty on our economies. We are also seeing a surge of protectionism. Whether it is called “populism” in Latin America, the promotion of “national champions” in Europe or “nativism” in the US, the same sentiments are sadly fuelling isolationism in parts of the world, anti-Americanism in others and anti-globalisation forces almost everywhere.
These are now magnified by one of the most ominous summer setbacks – the damaging collapse of the world trade talks. We must all wake up to the reality that, without the forward momentum a new trade agreement would give, we risk rolling backwards to the age of beggar-thy-neighbour protectionism and the further threats to stability that would flow from it.
We couldn't agree more, Gordon. Simon and Rob are working on a new NDN memo outlining opportunities to support and defend the open trade consensus in the run in to the elections.