Originally posted on Business 360:
(CNN) — Former UK Prime Minister Gordon Brown tells CNN’s John Defterios that protectionism has “taken over” in global trade, while advocating an agreement between developed economies in the West and emerging markets in the East.
Brown, who was UK premier from 2007 to 2010, said the problem that Europe and the U.S. face is that both do not have a big enough share of each other’s markets.
His comments come after the U.S. and European Union announced talks will begin later this year on a multi-trillion dollar free-trade pact to boost economic growth.
On the UK’s membership in Europe, Brown said British jobs depend on the EU and the idea that Britain could leave “offends” the country’s history, economics and culture.