Global Economic Crisis Is Changing Consumer Attitudes

While government officials of countries mostly favor free trade, a growing number of national consumers have mixed emotions about free trade.

As unemployment rates grow at accelerated rates, consumers are looking at imports in a different light.

A recent survey conducted by the Nielsen Company revealed that almost half of consumers want their government to place restraints on imports.

This protectionist view is not prevailing in all nations and all regions. If a country is export driven, obviously they wouldn’t want any form of protectionism.

There were 52 nations surveyed, and 45% of consumers said that they favor trade barriers implemented by government. In Latin America, North America, Asia Pacific, India, the Middle East, and Africa, consumers strongly agreed to protectionism. In Europe, protectionism is not nearly as favorable as other nations.

The most protectionist industry in many nations is — agriculture.

The auto industry in the United States highly favors protectionism, but here is a complex situation. Foreign auto companies generate one-third of autos in America, and they also employ roughly 40% of auto workers.

What is the most critical issue is jobs. That’s for sure.