As the US election approaches and the Doha round of trade talks has resumed this week in Geneva, there is much debate about the future of global trade and the emergence of China as a trade leader. The timing of the Doha round could not be more significant, as an economic slowdown has given rise to a new wave of protectionist sentiment. Yet it is important for world leaders to resist calls for protectionism and seize the moment to lift trade barriers. Embracing freer trade - with China as an engine of global economic growth - is the best chance to jump-start economies and provide job opportunities in both developed and developing nations.
There are two factors sparking these debates. First, in any economic slump fear can easily give rise to protectionist policies on tariffs and quotas. But these restrictions can be destructive and further slow down the economy.
