Free Trade or Trade Management

概要

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The recent outbursts in the United States and Britain against themovements of job to India though business process outsourcing is thelesson for‘free-trader’who has propagated the virtues of free trade tothe developing countries to open up their economies to the unrestrictedimports from the developed world. Although the developed countriespreach free trade doctrine, they hardly practice it. Tariffs and non-tariffrestrictions. Thus, by pressing upon removals of subsidies in agriculturaland improved market access for industrial goods, developing countriesare digging their own graves. Since 1945，European countries,both western and eastern, along with Japan, have made rapid economicprogress through systematic economic planning, industrial policy, and ingeneral a protected and managed foreign trade regime, which are abhorrentfor the Anglo-Saxon economics. That is the reason neither the EuropeanEconomic Community nor Japan is willing to part with a system,which has provided them so much for the last fifty years. The poorcountries, rather than accepting the failed doctrine of‘free trade’ofthe unreal Anglo-American economics, should, in this situation, followthe European countries and impose a managed and balanced foreigntrade system.
2012-03-25