Politics and economics of trade wars

S. Afontsev
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S. Afontsev: Institute of World Economy and International Relations, Moscow, Russia

Journal of the New Economic Association, 2020, vol. 45, issue 1, 193-198

Abstract: In recent years, the global economy has faced sharp increases in trade barriers and find itself at the edge of the outbreak of trade wars. Risks associated with the escalation of trade barriers, however, seem to be not fully realized. In fact, they are likely to be much more serious than most experts tend to believe. And this has to do with the diversity of reasons inviting economic agents and political decision makers to support protectionist policies. The article addresses factors responsible for the rise in protectionist attitudes, their possible consequences for the global economy as well as key challenges they pose for the trade policy of the Russian Federation.

Keywords: protectionism; trade wars; economic sanctions; political economy of trade policy; The New Green Deal; populism; political pragmatism (search for similar items in EconPapers)
JEL-codes: D72 F13 F51 F52 F53 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2020:i:45:p:193-198

DOI: 10.31737/2221-2264-2020-45-1-9

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