A new European mercantilism?

Europe's economic liberals have had a successful ten years. There have been protectionist pressures throughout this period, of course. But there has been a pretty broad consensus that Europe benefits from open markets, and that it has little option but to become more open or else risk stagnation and accelerated relative decline. But protectionist instincts run deep across the EU. And there are signs that Europe could be about to turn inwards again.

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