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Robert Zoellick, President of the World Bank, has been the most recent, but not the first, to point a finger at the United States when it comes to protectionism.
By introducing the UIGEA (Unlawful Internet Gambling Enforcement Act) into law, the US imposed a ban on online casinos from both local and especially international businesses. The WTO (World Trade Organization) has already awarded damaged to Antigua for their financial losses that occurred as a result of the UIGEA.
There has been much frustration caused for the online casino industry by the US protectionist policies brought in by the UIGEA, especially since the US has continued to allow online betting for domestic horse racing to continue, while banning online casinos and other forms of Internet gambling.
Zoellick explained to South American officials at a gathering in Chile that "It seems appealing to countries to encourage consumers to buy their own national products. But that's the road to the problem that exacerbated the downturn in the 1930s and led to the Great Depression."
The large amounts of income that could be generated by allowing free trade for the online gambling industry could go a long way to helping to reverse the current economic downturn that is taking place.
At the same time that the finger is being pointed at the US, the European Community is taking a hard line with European Union member states that are also not complying with free trade practices, and are following practices that are protectionist in nature. The European Union member countries that do not comply with the free trade agreements will find themselves at infringement hearings held by the European Community. |
