It appears that the WTO, in considering a complaint by Brazil against the US, has ruled against domestic farm subsidies.
I'm not at all qualified to discuss theories of global economics, so I take my cue from the many well-respected economists who strongly support free trade policies. I believe that in the long run, increasing free trade will lead to a global equilibrium with net gains in productivity and economic growth. However, in the short term, workers in rich countries will suffer. I say this as a person who was laid off by her previous employer, when it decided to outsource the engineering department to India.
It's unclear (to me, at least) exactly what should be done to ease the pain, but it seems reasonable to implement some policies that slow the process of coming to that equilibrium. It would be nice to find a person or a website with some balanced discussion on this topic.
Vancouver Richmond Nightmarket
6 years ago
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