Public opinion is bewildered by a confused world; in the crisis citizens seek reassurance. I understand that governments  BIS Review 101/2008  3  rediscover the value of protectionist formulas. Freedom of trade may appear a risk, protectionism a form of relief. But problems of income distribution cannot be solved by drying up one of the main sources of income.
Both sides of the Atlantic have an interest in preserving a climate propitious to the orderly growth of international trade and investment, based on a set of rules that are above all equitable. The main emerging countries, which have benefited so greatly from global integration, should undertake more substantial commitments to open their markets and accept stricter international rules.