WTO says protectionist measures in check

World leaders met in Toronto in June. Since then, "by and large ... governments have continued to resist protectionist pressures," the WTO said in a report released Thursday.

"The majority of new investment measures taken by G20 governments has aimed at facilitating and encouraging investment flows," the report said.
In advance of next week's G20 meeting in Seoul, the report warned of "three potential dangers" to international trade.

The first is "dark clouds that are being driven by persistent high levels of unemployment in many G20 countries," the report said.
The second danger the report pointed out was small restrictions to trade that eventually add up.

In the report's words, "The second is the danger of a steady accumulation over time of measures that restrict or distort trade or investment."

Lastly, the WTO warned that restrictive measures imposed during the financial downturn "pose serious threats to market competition in general."

The WTO called for "exit strategies" to unwind protectionist measures taken since the downturn began.

Copyright 2010 United Press International, Inc. (UPI).