In the early days of trade, seafarers relied on a combination of navigational skills, courage and good instincts to steer their way through turbulent waters. In more recent times, technology has transformed the31 we circumnavigate the globe but the basic need to steer a steady course through stormy seas remains the same. Over the past year, world trade has found itself tested by strong sea swells, with the 32 economy still buffeted by the lingering effects of the crisis of 2008-09. As a result, world trade growth fell to 2.0 per cent in 2012 — down from 5.2 per cent in 2011 — and is expected to 33 only slightly in 2013, to around 3.3 per cent. The need for a steady hand at the helm is greater now than 34 before. The trade figures for 2012 highlight that, 35 some progress, many of the structural flaws in the global economy are still to be addressed. Until governments rectify the policy shortcomings that have contributed to the crisis, protectionist pressures will continue to mount.