By Kuthula Matshazi
While the world has been preoccupied dealing with the fallout of the global financial crisis in order to rescue the global economy, another danger looms. That danger is trade protectionism, which is being practiced by many countries but is now epitomized by the huge United States US$825 billion stimulus package.
The Bill, that has won the support of the US House of Representatives, contains a provision called “Buy American” that mandates all public works projects to procure iron and steel made in the US only. A similar Bill emanating from the Senate is reported to be considering the “Buy American” provision for all manufactured goods bought with stimulus funds. More...
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