NZ’s Irony Is The WTO’s Rallying Call
While New Zealand’s sheep farmers may find it ironic, the United States trade liberalisation is being portrayed as a key reason for their sustained economic growth.
A new WTO Secretariat report on the United States' trade policies says that trade and investment liberalisation has resulted in the United States enjoying its second longest period of sustained economic expansion with real GDP growth averaging over 2.8% during the years 1992-96 and accelerating to 3.9% in 1997 and 1998.
This review covers the period 1996-98 and notes that “imports have helped to satisfy domestic demand resulting in lower prices and wider consumer choice. The openness of the economy has contributed to improving the competitiveness of U.S. producers, creating more and better paid jobs.”
The full report is available on: