Over the last century, protectionism has plagued nearly every period of economic hardship.  When looking to the past, countries that impose protectionist policies ultimately end up hurting their own economies and impede their recovery.  The first time world leaders were conscious of this phenomena was in the 1930s.  The large trade tariffs that were erected during the Great Depression were the catalyst for international trade wars that kept the world in recession of over a decade.   During the oil crisis and inflation of the 1970s and 1980s, countries didn’t commit the “original sin” but rather reinvented different forms of protectionism.  Some of these protectionist derivatives attempted to increase the domestic exports of a country by artificially depreciating the value of their home currency.  The result of these strategies was eerily similar to that of the Great Depression era trade policies.  When the 1997 Asian Currency Crisis happened, world leaders panicked and again increased tariffs and quotas around the world. One of the standout features of the latest global recession it that world’s industrialized nations have seemed to be in agreement over their domestic response to the global recession.   Historically, this level of unilateral corporation is unheard of and is, I believe, a significant sign of global economic progress.  This progress is not without sacrifice, many G20 nations have seen their exports shrivel in-light of shrinking demand.  It is paramount that they don’t point fingers at each other and continue to work together.  Unlike recessions of the past, I see a future recovery that is unhindered by anti-dumping practices, the need for countervailing, and tariffs.  Relatively speaking, as our world economies recovers, growth will be led by robust international trade.  While the scale of the recession may initially overshadow the underlying resilience of international trade, it will undoubtedly be one of the first noticeable indicators of a recovery.     Reference             Chen Deming.  (2009, February 20). Protectionism Doesn't Pay. The Wall Street Journal Asia, p. 11.