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Market Brief - Africa Economic Financial Brief 06-10 January 2014
Following the financial crisis of 2008-09 and the deepening of the Euro-zone crisis in 2012, global protectionist measures dramatically rose harming the commercial interest of LDCs. Subsequent to the G20 summit held in November 2008 to discuss the effects of the global financial crisis close to 200 trade protection measures had been instituted up until July 2012.
This has had been disadvantageous to the commercial interests of LDCs, including Africa. Export taxes and tariff measures accounted for 41percent of the total policy instruments, whereas export subsidies, non-tariff barriers, and state aid measures (bailouts) constituted 43percent. For instance, the introduction of export quota on nonferrous metals by China affects 67 countries of which 11 are African.