EDMONTON – The United States will become more protectionist in the next year as it tries to improve its economy, says an American economist.
“(U.S. president) George W. Bush is fighting the biggest war of his economic life,” said David Kohl.
“He’ll end up just like George Sr. if the economy doesn’t turn around in the next 12 months.”
As Bush fights to stay in government and turn around the sagging American economy, he will use every political means to improve the economy, including maintaining country-of-origin labelling legislation on red meat.
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“It’s not going away. You might as well plan on it,” Kohl told an audience in Edmonton.
“What you’re going to see over the next five to six months is a protectionist type of attitude.”
Kohl said protectionism isn’t sustainable in an increasingly global economy, but it’s a short-term fix to American’s sagging economy.
“What we will try to do in a short-run strategy is use protectionism. These political strategies are designed for short run, but when you’re playing in a globally competitive market, the dependence on subsidies will come back and bite you.”
