Protectionism is rearing its ugly head in many countries struggling to create jobs for theirpeople, boost business and get fresh capital.

But World Trade Organization director-general Pascal Lamy thinks protectionism's ill-effectshave been greatly exaggerated - for now.

Lamy,65, was speaking to The Straits Times last month, ahead of this year's Singapore GlobalDialogue, a yearly pow-wow on strategic security issues organized by the S.Rajaratnam Schoolof International Studies.

In fact, he stressed: "If China's economy were not what it is today, the rest of the world wouldprobably be worse off."

October 9, 2012

Source: China Daily

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