March 26, 2018

Free Trade is Marching On

Here's a story for those who think Free Trade is a Western conspiracy forced on poor non-Western nations in order to exploit them. First, that 44 African nations are pursuing a free trade pact (in addition to many regional pacts that already exist) doesn't support that. Second, I don't see why Free Trade being "Western" matters. Either it's good or bad; who thought of it first is irrelevant. And I'm not even sure it is Western. Back in the day, the Middle East was a center of global trade when Europe was a peripheral backwater. I bet at least one non-European thought trade barriers were dumb before Adam Smith did; it's such an obvious conclusion. 

Also, the TPP, which includes many non-Western countries, lives on. All of its original members, minus the US, are continuing negotiations. They renamed the pact the CPTPP, probably so protectionists will have a harder time thinking up anti-CPTPP chants than they did with the TPP. The deal has gotten even better without the US, as the length of time intellectual property protections last has been reduced. Can't wait 'til we join it.

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