Reject protectionism and economic nationalism

The Finance Minister today applauded a US diplomat's comments on international trade:

Mr. Hormats, who was the keynote speaker at the event, said that the US must reject protectionism and economic nationalism, and champion foreign investment as a key driver of US prosperity.

"We need to maintain a positive environment for international investment," he said. "The US along with other Governments needs to resist protectionism and economic nationalism.

"We also need to recognise that foreign direct investment contributes enormously to our economic success. And we need to pursue policies that will increase the confidence of foreign investors. This is the key to extending our economic recovery and global economic growth."

I agree.

The Bermuda Government should implement this advice themselves, "rejecting protectionism and economic nationalism", starting with term limits.

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