Bailouts and ‘Buy American’ policies ‘distorting competition’ say leaders in Davos

World Economic Forum 2009

The bailout of the banks and the auto industry, the recent measures proposed by Obama’s administration to protect the domestic  steel industry,  all have come under attack at the World Economic Forum in Davos this week. These measures, warned foreign officials at Davos  ‘have serious consequences for Washington and the rest of the world.’ According to an article in today’s NYTs, Germany’s chancellor condemned US protectionist policies, warning that they must not be allowed to ‘completely distort’ market forces and global free trade. Read the full article here