Every year for a decade or more, there have been dire warnings that this — this! — is the year in which the dams of international governance will break, and a flood of protectionism will inundate the world economy. The 9/11 attacks, the sustained episode of Chinese currency intervention, the collapse of the Doha round, the global financial crisis. Each was expected to pose a severe threat to trade. Each was much less damaging than feared.
十多年來，每年都會出現可怕的警示，就在今年——就今年！——國際治理的大壩將決堤，保護主義的洪水將淹沒世界經濟。9?11襲擊、中國持續的匯率干預、多哈回合(Doha Round)談判失敗以及全球金融危機。每一事件都曾被認為對貿易構成嚴重威脅。而每一事件造成的破壞其實都遠不及人們擔心的那樣嚴重。
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