Colombia and Albania would seem to have little in common. But they have been united since the Covid-19 outbreak in banning the export of a product that rarely finds its way into trade policy: toilet paper.
Thankfully, they’re the only two countries to have taken such action. But hundreds of other products have been ensnared by the protectionist impulse this year – many, but not all, tied to Covid-19. For developing nations in particular, the dangers are great: A sweeping retreat into restricting exports and imposing high import tariffs could exacerbate the current global economic slowdown and stifle the economic growth that reduces poverty. The early signs are not encouraging.
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