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The severity of LDCs’ position is further uncovered through analysis of this Chapter which investigates the impact of protectionist measures used in the aftermath of the global economic crisis in 2008 until present time on LDCs globally and also in Asia and the Pacific. The findings reveal that despite declared pledges of the developed countries to...
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Citations
Liberalization of global trade has undeniable positive outcomes for all parties, engaged in international trade. However, empirical evidences show that crises put countries under pressure of executing protectionist trading policy. Governments try to help favored sectors, keep employment and reduce economic damage. Currently, in terms of coronavirus pandemic, many countries have introduced trade regulation measures aiming to avoid deficit of critical goods. Every country fights for itself, without coordinating measures at regional, international levels. The paper studies trade restrictions in terms of coronavirus pandemic, aims of restrictions and their potential outcomes.
