Tuesday, September 28, 2010

Global Millennium Free Trade (GMFT)

Shashi Tharoor writes in todays HT that one thing important for achieving MDG 8 is to unleashing the trade.

  • Trade is the other key area. In contrast to aid, greater access to the markets of the developed world creates incentives and fosters institutions in the developing world that are self-sustaining, collectively-policed and inevitably with greater consequences for human welfare. In other words, the average tariff levels in the developed world would mean more over the long run than generous aid packages alone. Many countries wish to trade their way out of poverty, but are prevented from doing so by high tariff barriers, domestic subsidies and other protections enjoyed by their competitors in the rich countries. Such practices have to change.

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