UK Finance Minister: Western Countries Must Avoid Protectionism In Technology Trading

UK Finance Minister Jeremy Hunt (photo: Twitter

JAKARTA - UK Finance Minister Jeremy Hunt said on Wednesday April 19 that Western countries and their allies should avoid the temptation to lift barriers to protectionist trade in an effort to gain advantage in technology.

"The strategic choice facing the world now is whether we all say 'we will do it ourselves,' and return to protectionism, which will bring global growth back to the Dark Age?'," Hunt said at an event hosted by Politico.

"Ilihak or will we recognize the benefits of free trade and say that, among friends and allies and people who share democratic values, we will build a tough supply chain that we know will be able to deal with any global storm we face?" Hunt said.

Britain has expressed concern about US subsidies that will side with investment in industries such as clean energy in the United States and which have prompted the European Union to develop similar measures.

Hunt said Britain will remain competitive in innovation. "In the end, what makes you competitive is the quality of your idea, not the number of your subsidies," he said.

Hunt also said it was impossible for countries to get out of the race to develop artificial intelligence.