Warnings of a ‘domino effect’ of protectionism as Asian leaders meet

By Lee Chyen Yee and Fathin Ungku SINGAPORE (Reuters) - Asian leaders gathered for a a summit on Tuesday amid warnings that the post-World War Two international order is in jeopardy and trade tensions between Washington and Beijing could trigger a "domino effect" of protectionist measures by other countries. Malaysian Prime Mahathir Mohamad told a business forum ahead of the summmit in Singapore that other developed countries would take a cue from the United States and China if their tit-for-tat tariff war is allowed to spiral. "The trade tension between the two world powers is bound to create a domino effect that will affect trade reactions and will be a reason for other developed countries to adopt protective measures against developing countries, including the ASEAN countries," Mahathir said, referring to the 10-nation Association of Southeast Asian Nations (ASEAN).

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