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Jayati Ghosh — The Real Problem With Free Trade

Summary:
Jayati Ghosh — The Real Problem With Free TradeJayati Ghosh writing for Project Syndicate: Globalization’s detractors are right that free trade has created serious imbalances. But a trade war completely misses the point. The problem is not that free trade has led to too much global competition, but rather that it has enabled a few companies to secure monopolies or near-monopolies. This has given rise to massive inequalities, blatant rent-seeking, and predatory behavior. Only by addressing these trends can the benefits of trade be increased and equitably shared.She also reminds of the forthcoming UNCTAD report which discusses this. So watch out!

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Jayati Ghosh — The Real Problem With Free Trade

Jayati Ghosh writing for Project Syndicate: 

Globalization’s detractors are right that free trade has created serious imbalances. But a trade war completely misses the point. The problem is not that free trade has led to too much global competition, but rather that it has enabled a few companies to secure monopolies or near-monopolies. This has given rise to massive inequalities, blatant rent-seeking, and predatory behavior. Only by addressing these trends can the benefits of trade be increased and equitably shared.

She also reminds of the forthcoming UNCTAD report which discusses this. So watch out!

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