Protectionism is the economic policy of restraining trade between nations, through methods such as tariffs on imported goods, restrictive quotas, and a variety of other restrictive government regulations designed to discourage imports, and prevent foreign take-over of local markets and companies.

If we are not able to bring some improvements in the Global Meltdown ASAP, that is what we are going to face very soon.

Whether the governments are democracies, like those of the U.S., Western Europe, India, etc., or authoritarian, like that of China, or “in-betweens,” like Russia, the clamor “for saving local jobs and production will likely push them toward moves that will only heighten the downward spiral.”

That conjures up the images of Smoot-Hawley and all the horrors that odious legislation begot…