Global Gross Domestic product (GDP) will decline this year for the first time since World War II. Protectionism remains a serious threat in the current environment of sharp global contraction. Since the beginning of the financial crisis, roughly 78 trade measures have been proposed or implemented, of which 66 involved trade restrictions. Of these, 47 measures were actually implemented, including 17 of the G-20. The increased protectionism, contemplated or already implemented by many countries, may be difficult to reverse and will slow the recovery, says a World Bank paper prepared of the meeting of the G-20 Finance Ministers and central bankers. In addition, anti-dumping claims and actions increased 20 per cent in 2008 relative to 2007.
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