Friday, October 8, 2010
Depression call goes mainstream
Currency wars, trade barriers and other protectionist policies are rising to the top of domestic political agendas as governments across the world struggle to resurrect economic growth. His concerns were echoed by Robert Zoellick, President of the World Bank, who warned that failure to co-operate would risk plunging the world economy into depression. He said: "If one let's this slide into protectionism, we run the risk of the mistakes of the 1930s."