-thirds of the cumulative current account surpluses of all the world’s surplus countries. Summers thinks that such a unique …

This paper examines the recent trend of rise in protectionism policy in many countries. The general trend of commercial … policy during the postwar era was toward a liberal world trading system. In contrast to this trend, pressures for protection … have emerged in many countries recently, and it seems probable that the pressures for protectionism will continue. If these …

growth, expanding significantly their shares of world markets. The empirical analysis shows that over the period 1994 …