An editorial on bloomberg.com comments that Europes border tax [CBAM] threatens to become an additional pressure on
Question:
An editorial on bloomberg.com comments that “Europe’s border tax [CBAM] threatens to become an additional pressure on a creaking economic order. Liberal trade is already under assault from a revival of protectionist sentiment in many rich countries.”
a. What does the editorial mean by a “revival of protectionist sentiment”?
b. Why might the countries of the European Union implementing a carbon border adjustment mechanism (CBAM) put pressure on a “creaking economic order”?
What economic order is the editorial referring to?
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