Protectionist sentiment and fear of globalization are on the rise. In the United States, presidential candidates appeal to anxious voters by blaming the North American Free Trade Agreement for the erosion of the country's manufacturing base. Liberal trade initiatives have run into trouble in Congress, while new trade barriers have been mooted for products flooding in from China.
Things are no better in Europe. France has dealt the Doha round of World Trade Organization (WTO) negotiations a blow by rejecting the outline deal on agriculture. European Commission President Jose Manuel Barroso believes that protectionist pressures are increasing.
When the Doha trade round was launched shortly after Sept. 11, 2001, there was plenty of international good will. But disenchantment with globalization — and, in some regions, fear of immigration — has since set in. A recent Financial Times/Harris poll in the U.S., Germany, France, Britain, Italy and Spain found people nearly three times more likely to say that globalization is negative than positive.