The global economic crisis, contemporary protectionism, and least developed countries
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 towards free trade, and especially about providing enhanced market access to the LDCs, most LDCs were not spared from the protectionist measures. Moreover, leading emerging economies also imposed measures against the LDCs’ commercial interests raising a question of the political commitment to South-South cooperation. While no LDC escaped unhurt by contemporary state protectionism, Asian LDCs, particularly Bangladesh’s commercial interests have been hit very hard.
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