Despite the sharp economic contraction during 2008-2009, the increase in protectionist measures was fairly modest. Why do you think this was the case?

In 2008, even with the protectionism notions, the US government was aware of the major impact that the subprime market and trade crisis. However, it was unable to correct the situation due to the ineffectiveness of its risk strategies. Accordingly, even with protectionism being fairly implemented by the World Trade Organization (WTO), the crisis still resulted from neglect of governance to monitor internal controls and external checks as compared to the efforts during the Great Depression. Internal control, in this case, plays a major role in risk management, such as monitoring, information and communication, control activities, risk response, and risk assessment. In particular, even in the face of protectionism, trade governance in the US and other parts of the world was established in an effective a timely manner.

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Academic.Tips. (2021) 'Despite the sharp economic contraction during 2008-2009, the increase in protectionist measures was fairly modest. Why do you think this was the case'. 8 June.

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Academic.Tips. (2021, June 8). Despite the sharp economic contraction during 2008-2009, the increase in protectionist measures was fairly modest. Why do you think this was the case? https://academic.tips/question/despite-the-sharp-economic-contraction-during-2008-2009-the-increase-in-protectionist-measures-was-fairly-modest-why-do-you-think-this-was-the-case/

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Academic.Tips. 2021. "Despite the sharp economic contraction during 2008-2009, the increase in protectionist measures was fairly modest. Why do you think this was the case?" June 8, 2021. https://academic.tips/question/despite-the-sharp-economic-contraction-during-2008-2009-the-increase-in-protectionist-measures-was-fairly-modest-why-do-you-think-this-was-the-case/.

1. Academic.Tips. "Despite the sharp economic contraction during 2008-2009, the increase in protectionist measures was fairly modest. Why do you think this was the case?" June 8, 2021. https://academic.tips/question/despite-the-sharp-economic-contraction-during-2008-2009-the-increase-in-protectionist-measures-was-fairly-modest-why-do-you-think-this-was-the-case/.


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Academic.Tips. "Despite the sharp economic contraction during 2008-2009, the increase in protectionist measures was fairly modest. Why do you think this was the case?" June 8, 2021. https://academic.tips/question/despite-the-sharp-economic-contraction-during-2008-2009-the-increase-in-protectionist-measures-was-fairly-modest-why-do-you-think-this-was-the-case/.

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"Despite the sharp economic contraction during 2008-2009, the increase in protectionist measures was fairly modest. Why do you think this was the case?" Academic.Tips, 8 June 2021, academic.tips/question/despite-the-sharp-economic-contraction-during-2008-2009-the-increase-in-protectionist-measures-was-fairly-modest-why-do-you-think-this-was-the-case/.

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