From a few weeks ago, VoxEU has a new book about Crisis and Protectionism (via JD):

The magnitude of the new protection is modest. However, as the recession spreads and deepens globally, this could change – especially if world leaders lose control of the situation; protectionism and competitive devaluations could trigger a vortex of beggar-thy-neighbour policies.

At the time this warning seemed rather benign. Not so much anymore? The U.S. has just hit China with a WTO suit, alleging that “industrial policies are unfairly promoting Chinese branded products at the expense of American workers…”