The specter that haunted the 1930s again threatens world economic instability. Here's why! Suddenly, battles over trade are heating up! Charges and countercharges of unfair trading practices are flying across oceans and national borders. Trading conflicts threaten to undermine relations between even the closest allies. Calls for protectionism and retaliation have reached, in recent months, the highest levels since the 1930s. "The world trading system is at a crossroads," warns Robert Hormats, U.S. Assistant Secretary of State for Economic Affairs.
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