本文指出，在全球冲击中，贸易保护主义通常会推高价格并加剧波动性。在Covid期间，许多政府即使疫苗供给能力充足，也仍实施出口禁令和限制，结果使较不发达国家被搁置在后方并造成严重福祉损失。乌克兰战争最初两个月，WTO监测到共采取53项措施，几乎有四分之三为限制性措施。食品、肥料和燃料上的出口禁令收紧了全球供应并推高价格，而较少数的减税或关税下调只在边际上缓解压力。

在霍尔木兹海峡危机中，WTO成员迄今采取的措施组合反而较不具限制性：在约78项措施中，超过70%为促进贸易的措施。行动包括增加石油、天然气和成品油供应、取消部分出口限制，以及简化海关手续。各国政府同时搭配燃油补贴、税制调整和定向转移支付以减轻家庭通膨冲击。然而，约30%的限制性措施仍然是实质性的；若进一步扩大，将可能加剧通膨与不确定性。

文章亦指出，反复冲击暴露了结构性脆弱性：全球供应链依赖高度集中的路径与供应商，因此在狭窄走廊中的中断可借由互连市场迅速放大压力。除霍尔木兹外，苏伊士运河、巴拿马运河、马六甲海峡与直布罗陀等瓶颈也揭示相同风险。WTO总干事认为韧性现在取决于多元化与协调——及时资讯共享、新限制的克制、以及政府、多边机构（WTO、IMF、世界银行、WHO）与物流业者、保险机构之间持续合作，以恢复货物流动而不引发一个限制循环。

The article argues that in global shocks, trade protectionism usually raises prices and volatility. During Covid, many governments imposed export bans and restrictions even when vaccine supply capacity was sufficient, pushing poorer countries to the back and causing severe welfare losses. In Ukraine’s first two months, WTO monitoring recorded 53 measures, with almost three-quarters being restrictive. Export bans on food, fertilisers, and fuels tightened global supply and lifted prices, while a smaller number of duty cuts only marginally eased pressure.

For the Strait of Hormuz crisis, WTO members have so far taken a less restrictive mix: of about 78 measures, just over 70 per cent are trade-facilitating. Measures include adding supply of oil, gas, and refined products, removing some export curbs, and simplifying customs. Governments have paired trade actions with fuel subsidies, tax adjustments, and targeted transfers to cushion households. Yet about 30 per cent restrictive measures remain significant; if expanded, they could intensify inflation and uncertainty.

The article also highlights structural fragility revealed by repeated shocks: global chains depend on concentrated routes and suppliers, so disruption in narrow corridors can rapidly amplify stress across linked markets. Beyond Hormuz, chokepoints such as the Suez Canal, Panama Canal, Strait of Malacca, and Gibraltar show the same exposure. The WTO director-general says resilience now depends on diversification and coordination—timely information sharing, restraint in adding new restrictions, and sustained collaboration among governments, institutions (WTO, IMF, World Bank, WHO), logistics firms, and insurers to restore flows without triggering a cycle of restrictions.