Bull(y) in India's shop

Shockingly, however, when developing countries have converted to an open economy, the original open economies have turned 'protectionist'.

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The middle game None more than the United States under President Donald Trump.

Taking measures to stave off a temporary crisis is one thing, elevating protectionism to the status of official economic policy is another. Mr Trump is unapologetically in favour of high tariffs, opaque non-tariff measures, discouraging imports, balanced trade with every country, and threatening American companies not to locate their factories outside America. He believes that 'tariffs' will accomplish what he desires. He has brought into policy-making weird factors such as bias for Republican-leaning states, prejudice against Canada's leaders, false arguments like the American economy no longer creates new jobs for Americans, and bizarre claims that the burden of high tariffs will be borne by the exporters and not the American consumer. Mr Trump has dismissed proven economic truths such as factor disparities, specialisation, division of labour, supply chains, etc.