11.   The comments underline concerns that an IMF loan is no quick fix for an economy beset by spiraling debts and inefficiencies spawned by protected markets.

12.   They flourish only in a protected home market, helped along by political connections.

13.   U.S. executives said that globally, the tide is running against protected financial markets.

14.   Yesterday, Chirac argued for treading a middle ground between European-style protected markets, and the U.S.-style free market approach.

15.   And Iran is seeking to join the World Trade Organization, which would mean opening up its protected market to foreign competition.

16.   Banks are bracing for the entry of foreign competitors to challenge them in their erstwhile protected market.

17.   Cardoso said South America would demand more access to currently protected U.S. markets for farming produce and other basic commodities.

18.   Like other European airlines, Sabena is under pressure to slash costs in the face of European Union rules banning government subsidies and forcing open previously protected markets.

19.   Ahmad told insurers not to be complacent as the present protected Malaysian insurance market could not be taken for granted.

20.   Air Liberte is the second airline to challenge Air Inter on what was previously a protected market.