Brussels, 14 April (LaPresse) – “Of course, the risk” that Europe too might adopt a more protectionist stance “exists”. “In general, we are witnessing a sort of protectionist shift on the part of the United States, Europe and everyone else. But ultimately, if this protectionism succeeds, if global economic fragmentation occurs, this could lead to serious negative economic consequences for the world. I believe that IMF estimates from a few years ago indicated that if this global economic fragmentation occurs and trade becomes concentrated within certain economic and geopolitical blocs in the medium to long term, this would lead to a reduction in global GDP of around 7%". This was stated by EU Commissioner Valdis Dombrovskis, speaking on a panel at the International Monetary Fund. “This is therefore a very significant negative economic impact that we must absolutely avoid, and for this reason we must consider economic security,” he emphasised. “We must consider unfair competition, resilience and targeted interventions in these areas. But we must not forget that, ultimately, a functioning, rules-based international trading system is in everyone’s interest.”