The problem with "Free Trade" and how it is devastating to so many developed and undeveloped economies is not the fact that it exists. The problem is that true free trade does not exist. The third world countries that are importing lower priced food from the first world are not suffering from free trade. They are suffering from the subsidies that the developed world's governments give to their farmers. The job losses to lower wage countries suffered workers in the USA and EU are to some extent the result of fixed exchange rates by China, South Korea, and India. Some have estimated that the Chinese currency is undervalued by as much as 40%. If properly valued, the cost of Chinese goods would be higher and maybe EU and USA companies could keep more jobs at home. Fixed exchange rates and subsidies are neither free nor supporting the gains to all that are obtained from comparative advantage.
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