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Murdoch voices concerns about Obama
News Corporation chairman Rupert Murdoch has warned that Barack Obama could worsen the world financial crisis if he is elected US president next week and implements protectionist policies.In an interview with The Weekend Australian, Mr Murdoch said the Democrats' policies would result in "a real setback for globalisation" if implemented. Mr Murdoch said he did not know whether Senator Obama would implement all of the protectionist measures espoused by the party. "Presidents don't often behave exactly as the campaign might have suggested because they become prisoners of all sort of things - mainly circumstances and events," Mr Murdoch said. He warned that any rise in protectionism in the US, including introducing trade measures against China as espoused by some Democratic members in Congress, would risk retaliation and could threaten the world trading and financial systems. "For the past three or four years, some Democrats have been threatening to do things like put on extra tariffs (against Chinese imports) if they don't change their currency,' Mr Murdoch said. "If it happened, it could set off retaliatory action which would certainly damage the world economy seriously." Posted by: tipper 2008-10-31 |
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