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Home > africa/global: I was wrong. Free market trade policies hurt the poor

Contributor [1]
Thursday, May 22, 2003 - 03:00
Categories: 
Development [2]
Issue Number: 
111 [3]
Article-Summary: 

The view that developing countries would need to embrace trade liberalisation as a means out of poverty was "wrong and misguided". Zambia and Ghana were both examples of countries in which the opening up of markets has led to sudden falls in rates of growth with sectors being unable to compete with foreign goods. Even in those countries that have experienced overall economic growth as a result of trade liberalisation, poverty has not necessarily been reduced. This is not the message of any...read more [4]

The view that developing countries would need to embrace trade liberalisation as a means out of poverty was "wrong and misguided". Zambia and Ghana were both examples of countries in which the opening up of markets has led to sudden falls in rates of growth with sectors being unable to compete with foreign goods. Even in those countries that have experienced overall economic growth as a result of trade liberalisation, poverty has not necessarily been reduced. This is not the message of any anti-globalisation think-tank, but that of former United Kingdom trade and industry secretary Stephen Byers.

Category: 
Global South [5]
Oldurl: 
http://www.pambazuka.org/en/category.php/development/15107 [6]

Source URL: https://www.pambazuka.org/node/16475

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[6] http://www.pambazuka.org/en/category.php/development/15107