How real is the threat of protectionism?

Concerns that Latin America might be spiralling towards a new era of protectionism have emerged in 2012. But while it is true that the region as a whole has seen an increase in protectionist trade measures, these have been largely confined to Argentina and Brazil. What’s more, most other Latin American economies actually seem to be taking steps to liberalise trade relations. Even so, in an environment of slowing global growth and falling commodity prices, there is a risk of other nations being sucked into tit-for-tat trade disputes in the coming years.