In a recent interview with CGTN, Carl Fey, a strategy professor at BI Norwegian Business School, expressed deep concern over the United States’ turn towards protectionism, labeling it as the “biggest concern” for the future of the world economy.
Fey highlighted the irony in the current global trade landscape, noting that while China is actively striving to promote free trade on the international stage, the US—a nation traditionally seen as a champion of open markets—is adopting increasingly protectionist policies.
“It’s quite ironic,” Fey remarked. “China is making significant efforts to advance global free trade, but the US has become a protectionist country. This shift is alarming and could have profound implications for the global economy.”
Fey’s comments come amid ongoing trade tensions and a re-evaluation of globalization by some Western nations. He warned that protectionist measures could hinder economic growth, disrupt supply chains, and negatively impact both developed and developing countries.
“Global collaboration and open markets are essential for economic stability and prosperity,” Fey emphasized. “Protectionism may offer short-term benefits for some, but in the long run, it undermines the foundations of global economic progress.”
The professor called for renewed commitment to free trade principles and urged nations to work together to address economic challenges. “It’s crucial for countries to collaborate and find common ground,” he said. “Only through cooperation can we ensure a thriving global economy that benefits everyone.”
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Professor: 'Protectionist' US biggest concern for world economy
cgtn.com
