Free trade is best, claim Australians

26 May 1999

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.

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