These sentiments were evident by resistance to investments in the US and Europe by companies and funds from emerging markets which are buying up old-established American and European companies, he said in Colombo, at the Ceylon Chamber of Commerce annual general meeting.
In such a protectionist environment, the failure of the Doha round of world trade talks could hurt small, developing countries like Sri Lanka, Walter, a well-known European economist and academic, said.
"Doha is dead," Walter declared. "The fast-track has expired; the US president can no longer negotiate trade agreements; the power has gone back to Congress."
Walter said US Congressmen "can be quite parochial" and could respond to feelings among voters that globalization and free