Is global trade entering an era of ‘vigilante protectionism’?

Dec 11 21:12 2019 Print This Article

I grew up in the New York City area in the 1980s. My dad always read the tabloids, and so I started to do so as well. That’s where I first learned about a fascinating phenomenon – the Guardian Angels. This was a large group of concerned citizens who wore distinctive uniforms, most notably red berets, and patrolled subways and other public areas in an attempt to prevent crimes from occurring during what was perceived to be a lawless time for New York City. In the beginning, the Guardian Angels were labeled by the tabloids as “vigilantes” who were “taking the law into their own hands.” Today, they are a reminder of how chaotic New York City was at that time.

 

I’ve been thinking about the Guardian Angels lately as I track the ongoing headlines about global trade – an area that I believe is descending into chaos and may be soon be subject to countries taking the law into their own hands through a process that I call “vigilante protectionism.” Why do I believe this? Because this week will likely go down in history as when the World Trade Organization (WTO) ceased to function effectively.

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Trimark Investments Blog

As one of Canada’s leading investment management companies, Trimark Investments is singularly focused on putting investors' interests first. Invesco Canada offers a diversified suite of investment solutions to investors across the country and around the world. The blog is comprised of portfolio managers, who are often asked about their views on various investment-, market- and economy-related topics and how these views impact investment decisions. Trimark Investment blog intends to answer the questions Invesco Canada is frequently asked.

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