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Date: 2024-08-16 Page is: DBtxt001.php txt00000712 |
Global Trade |
COMMENTARY
Clearly there is a role for trade ... but the rules for trade need to be fair as well as 'called' free. I cannot say whether I agree with the author of this letter (Jagdish bhagwati) or not since the issues are very complex. In general, I would argue that trade has been good for corporate investors, but not so good for workers. In high wage countries jobs have disappeared and in low wage countries, working conditions and wage rates stay very low. Corporate profits and investor gains have been strong, while wage workers have been remunerated less. This is what free trade and its rules seems to deliver ... and I would argue that a better outcome should be the goal. That means, I think, something rather different than will emerge from the Doha Round of multilateral trade negotiations
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An Open Letter to President Obama on Doha
Mr. Barack Obama
Dear Mr. President: As the window of opportunity for a robust deal on Doha Round is closing, with the United States now about to enter into an election mode, we make an appeal for Presidential leadership in the United States to put Doha into closure along with the three Free Trade Agreements that finally seem close to passage by bipartisan agreement. The fear of the labour unions that trade with the poor countries produces poor in the rich countries is mistaken. The demand of the business lobbies that want ever more concessions from others is excessive. The contention of some experts that the gains from Doha are minuscule is flawed in neglecting the costs of the failure of Doha and the ensuing damage to the WTO. The retribution by a protectionist public is greatly exaggerated: many jobs today depend on both exports and imports and the polls reflect that. President Obama: you have not failed to step up to the plate on issues like the repeal of the Don’t Ask and Don’t Tell policy in the armed forces. You can do so again to carry Doha past the finish line. You were awarded the Nobel Peace Prize for the multilateralism that you promised. You can earn it with leadership on Doha, a multilateral venture par excellence.
Jagdish Bhagwati, Columbia University and CFR
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Jagdish Bhagwati on the American Interest blog
August 31, 2011 |
The text being discussed is available at http://blogs.the-american-interest.com/bhagwati/2011/09/06/428/ |
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