Why Free Trade Matters for COVID-19 Recovery
May 15, 2020
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1:06Now PlayingWhy Free Trade Matters for COVID-19 Recovery
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as posted by the channelInternational trade has fueled competition, innovation, and economies of scale, empowering producers and consumers all over the world with more choices. Not surprisingly, trade freedom goes hand in hand with overall prosperity and human development.
The World Trade Organization recently reported that half of its member countries currently imposing coronavirus pandemic-related export-control restrictions were not reporting those controls. Unfortunately, the temptation to seek short-term advantages through protectionist measures abounds and has been increasing.
In a highly complex global economic environment, open trade is a constantly evolving phenomenon and process. For now, at least this much is clear: In the context of the current coronavirus pandemic, defending and advancing trade freedom is more critical than ever.
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