Mexico’s Guzmán worried about protectionism
Difficult to understand why given the experience during the Great Depression, the governor said
The rising trend of protectionism tilts the balance of risks to global growth to the downside, said Javier Guzmán, deputy governor at the Bank of Mexico in a speech on October 12.
Guzmán said it is particularly “worrisome” in the case of intermediate goods and services, given their important role in global value chains.
In the speech, Guzmán explained that uncertainty arising from protectionism causes business to postpone or scale back investment plans, and households to “follow suit” with
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