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Free trade vs. Protectionism – the end of globalization !?

Author

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  • Raluca-Marilena MIHALCIOIU

    (Spiru Haret University, Bucharest, Romania)

Abstract

The steady growth of the world trade appears to be stopped, parallel to nationalist tendencies in politics. A very modern Dilemma for the European States Economies is whether to adopt a policy of free trade or of protectionism. European Governments and economic associations were hoping for more growth and jobs from deals such as CETA and TTIP, but this deals were stopped under the new US President. The opponents of the EU's free trade agreements with Canada and the USA are increasingly because they fear the softening of environmental, consumer and social standards as well as more power for corporations. The controversy is great; the dimensions of the agreements being debated are enormous. The economic output of the EU and the USA together account for almost half of the global gross domestic product. The paper presents the aspects of the actual debate on protectionism and why so many experts see the "end of the globalization". It explains why the future of globalization in the 21st century seems more uncertain than at the end of the 20th century and it points out the opportunities for a modern Romanian Economy.

Suggested Citation

  • Raluca-Marilena MIHALCIOIU, 2017. "Free trade vs. Protectionism – the end of globalization !?," International Conference on Economic Sciences and Business Administration, Spiru Haret University, vol. 4(1), pages 288-292, November.
    • Handle: RePEc:icb:wpaper:v:4:y:2017:i:1:288-292
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    More about this item

    Keywords

    protectionism; free trade; globalization; world trade; exchange of goods;
    All these keywords.

    JEL classification:

    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • D18 - Microeconomics - - Household Behavior - - - Consumer Protection

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