Wednesday, May 25, 2016

Martin Khor — Free Trade in Rhetoric, Not in Practice

Western countries commonly proclaim the great benefits of free trade and the evils of protectionism.
In reality, many developed countries practise double standards, insisting on free trade in areas where they are strong, whilst using protectionist measures in sectors where they are weak.
In the worst case, within the same sector they have designed rules that impose liberalisation on developing countries but allow themselves to maintain high protectionism.
An outstanding example is in agriculture, in which the rich counties are not competitive.If “free trade” were to be practised, a large part of global agricultural trade would be dominated by the more efficient developing countries.….
But until today, agricultural trade is dominated instead by the major developed countries.…
TripleCrisis

1 comment:

Bob said...

It's a bad idea not to be self-sufficient in food.