Source: Xinhua

03-30-2009 17:24

LONDON, March 30 (Xinhua) -- "Talk globally, act nationally" is the catch phrase describing the practice of protectionism in many countries.

Despite hindering the recovery of the global economy, protectionism continues to be adopted in some countries and is threatening to spread. How to fight protectionism seems destined to dominate the agenda of the upcoming G20 summit in London.

British Finance Minister Alistair Darling said he would press the summit to issue a strong statement opposing trade barriers when leaders of the 20 industrial and emerging economies meet on April 2.

Pascal Lamy, director-general of the World Trade Organization (WTO), Thursday warned against a rise in restrictive trade measures.

"There is now a danger of an incremental buildup of restrictions that could slowly strangle international trade and undercut the effectiveness of policies to boost aggregate demand and restore sustained growth globally," he said.

Gerard Lyons, chief economist of Standard Chartered Bank, said in an exclusive interview with Xinhua that world leaders at the G20 summit need to make clear and detailed commitments to prevent protectionism.