Protectionism to cause global economic slowdown: expert

Source:Xinhua Published: 2019/5/25 17:03:14

The growing trend of protectionism is likely to cause global economic slowdown, an expert warned on Friday.

Kigen Morumbasi, lecturer of international relations and diplomacy at the Kenyatta University, said in Nairobi that it is difficult to have development with protectionism because changing technology is bringing the world together.

"The current drive towards protectionism is because some countries want to maintain status quo of the current global system. Some countries see the rise of other countries as a threat to them," he said.

Morumbasi noted that each state is likely to benefit from trading with each other especially if it focuses on its comparative advantages.

Morumbasi observed that sometimes domestic politics can force a country to adopt policies to protect its domestic industries but all nations should be aware that they still need external markets.

He said that technology has eased the way states trade with each other by making it more convenient for goods and people to move across borders.

The expert noted that when states compete against each other it brings about both positive and negative outcomes.

Posted in: ECONOMY

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