Pascal Lamy

shamseddin20120412125627500The impulse to “go local” in answer to the financial crisis must be resisted. In fact, I would argue that we should continue “going global”, if I may say so, for the simple reason that many consumers have seen their purchasing power decline, and are in need of cheaper, more competitive goods and services, and not more expensive ones produced behind a national tariff wall.
International trade helps lower the cost of goods and services to the final consumer.

2 thoughts on “Pascal Lamy

  1. shinichi Post author

    In fact, if the entire WTO community of nations were to decide to raise its applied tariff levels all the way up to WTO legal ceilings, this would raise the world’s average tariff hurdle to about twice its current level.

    In other words, exporters would become 100 per cent worse-off than they are today if the full policy-space that the WTO provides were to be exploited.


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