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Protectionism - Is it worth trying?

The credit crunch and the disruption to financial markets can only lead to a recession with the loss of millions of jobs. Is it time to rethink our strategy by ensuring that most of the contracts are given to British based companies? If that is not totally possible then because most of our trade is with the EU to restrict our trade there.
There is bound to be a backlash from other countries outside the EU but surely this was why we formed this trade club in the first place.
Countries outside the EU which includes the USA should be on equal import/export arrangements.

Then many of the British jobs would be protected!

rov1200 Thurs 09/10/08 21:13

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Tom Braider
Thurs 09/10/08
21:41

Protectionism? God no! http://www.buyandhold.com/bh/en/education/hist ory/2002/smoot_hawley.html

factor30
Thurs 09/10/08
22:13

In the long run we'd all lose out. We need countries to work together at the moment. That's my view.

WoWo
Fri 10/10/08
12:13

People are not interested which is why most British manufacturing firms went to the wall years ago. What people want is cheap tat, they don't care (or to be fair realise) the long term impact.

rov1200
Fri 10/10/08
20:38

Question Author

Even though our currency has plummetted against all the other major currencies our exports have failed to rise. I think we are living in parallel worlds at the moment with the bank problem not sorted out and in the real world people losing their jobs, firms going to the wall and a deep recession in the offing. The EU club could solve many of the problems at a stroke. Sarcozy has arranged a meeting so maybe something will come from it.

rov1200
Fri 10/10/08
21:11

Question Author

Unknown to me protectionism is alive and kicking in the EU now

http://www.independent.co.uk/news/business/new s/protectionism-alive-and-well-across-the-eu-9 29655.html

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