The IMF's most recent world report stated that world wealth inequalities have reached staggering proportions. The increased centralization of production and finance, the loss of job security and lower wages imply that consumption will be hard put to keep up with the growth in trade, even if lower prices increase consumption in the short-term.
Who can say with a straight face that free trade will benefit all consumers through lower prices? No wonder the crowds outside the WTO meeting in Seattle are shouting so loud to be heard.
Sun Chiung-li is a student at the Graduate School for Social Transformation Studies at Shih Hsin University.
RSS