Free trade is best, claim Australians
HALVING protection globally for agriculture, services and manufacturing would boost the world economy by more than US$400 billion (£250bn), claims a new study.
The study, carried out for the Australian government, says services would make the largest contribution at $250bn but agriculture savings were projected at $90bn.
The reports analysis of the agricultural sector finds that the biggest winner of a 50% cut in agricultural protection would be Japan.
Complete liberalisation of farm trade would stimulate an increase in global exports of $300bn, the report says.
- Australia protected from cotton slump, FWi, yesterday (25 May, 1999)
- Financial Times 26/05/99 page 6