Since 2008, global trade has grown slightly more slowly than global gross domestic product (GDP). The Doha Round of World Trade Organisation (WTO) negotiations ended in failure. Transatlantic and transpacific trade negotiations are progressing slowly, held back by the resistance of special interests.
But, though many experts fear that protectionism is undermining globalisation, threatening to impede global economic growth, slower growth in global trade may be inevitable, and trade liberalisation is decreasingly important.
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