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    Policy Brief No. 49 of 2018-2019 on Growing Protectionism and its Implication on Kenya Foreign Trade with USA and UK

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    Publication Date
    2018
    Author
    Onyango, Christopher Hugh
    Kenya Institute for Public Policy Research and Analysis (KIPPRA)
    Type
    Policy Paper
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    Kenya Institute for Public Policy Research and Analysis (KIPPRA)
    Abstract/Overview

    Until after the global financial crisis, interdependence of world economies and increased cross-border trade in goods and services underpinned the growth of world economies. World trade grew faster than output by around one and a half times since 1991. At the same time, there was increasing degree of openness in trade, rapid developments in information and communication technology, falling cost of transportation and increasing in cross-border activities, with more domestic companies increasingly being involved in international trade. However, the unprecedented 12.2% decline in world trade in 2009 triggered a rapid descent into protectionism to shield domestic businesses and jobs from foreign competition. Anti-globalization rhetoric also gathered momentum especially in the US and most parts of Europe. Indeed, the world’s top 60 economies introduced 7,000 protectionist trade measures since the financial crisis. Thus, the impact of the crisis quickly depressed economic indicators, raised the levels of inequalities and social deprivation, and fueled resentments against free trade. Subsequently, the backlash against progressive cultural changes brought about by greater global openness and the threats associated with international migration and terrorism added even greater impetus to proponents of protectionism..

    Subject/Keywords
    Growing Protectionism; Bilateral Cooperation; US Trade Policies; Coping Mechanisms; Kenya
    Further Details

    Policy Briefs No 49 of 2018-2019 on Growing Protectionism and its Implication on Kenya Foreign Trade with USA and UK

    Publisher
    The Kenya Institute for Public Policy Research and Analysis (KIPPRA)
    Series
    Policy Brief;No 49 of 2018-2019
    Permalink
    http://repository.kippra.or.ke/handle/123456789/2273
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    • Policy Briefs [307]

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