Canada needs to step up to the plate and show the United States that two can play the trade protectionist game, Nobel Prize-winning economist Jagdish Bhagwati says. However, others, including his renowned peer Paul Krugman, say trade protectionism is not a great threat and is actually remarkably low given the depth of the global financial crisis and recession. "The first thing we have to learn is not to throw the trade baby out with the financial bath water," said Mr. Bhagwati, a professor at Columbia University and the recipient of the Nobel Prize for Economics in 2005. At the Centre for International...
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