Czech President Milos Zeman on Thursday warned that the rise of protectionism and tariff wars could unleash a new economic crisis on the world.
PRAGUE (Pakistan Point News / Sputnik - 21st September, 2018) Czech President Milos Zeman on Thursday warned that the rise of protectionism and tariff wars could unleash a new economic crisis on the world.
"I fear we could see a new global economic crisis started by the stupidity of politicians and bankers," he told German industrialists during a state visit to Berlin.
Zeman said any book on economics cautioned against protectionism, sanctions and duties.
"It's a paradox but some politicians have not read that first chapter," he added in a thinly-veiled hint at Washington.
The United States has threatened its allies and rivals with hefty import tariffs if they do not correct trade imbalances. The European Union agreed in July to import more US goods to avert a trade war.
