IMF and other international agencies to support open trade calls on the governme
The world's leading multilateral economic institutions said on Monday that global trade has brought about the benefits of higher productivity and lower prices, but the government has not fully helped the workers and the social strata that have been hit hard by imports.
The International Monetary Fund (IMF), the World Trade Organization (WTO) and the World Bank responded in a report to the Trump government's policy place to strengthen protectionism, saying that for global trade, the strict implementation of the provisions as a basis Open trade system is essential.
These institutions have been struggling to promote the development of free trade for decades, and the report mentions that studies have shown that those manufacturing industries that are more affected by Chinese imports have been losing their jobs and profits for a long period of about 2,000 years, The most serious loss of jobs. "
But the report still supports the development of an open trade system based on strict adherence to the rules, saying that trade liberalization has increased productivity and living standards.
The report notes that studies have shown that trade openness is increased by one percentage point, and productivity can be increased by 1.23% in the long run. A Canadian study shows that the most productive industry in Canada has increased its labor productivity by 14 percent and the industry's most competitive industry, with an increase of 15 percent, in the most competitive industries in Canada, as a result of an American free trade agreement in the 1980s.
The International Monetary Fund (IMF), the World Trade Organization (WTO) and the World Bank responded in a report to the Trump government's policy place to strengthen protectionism, saying that for global trade, the strict implementation of the provisions as a basis Open trade system is essential.
These institutions have been struggling to promote the development of free trade for decades, and the report mentions that studies have shown that those manufacturing industries that are more affected by Chinese imports have been losing their jobs and profits for a long period of about 2,000 years, The most serious loss of jobs. "
But the report still supports the development of an open trade system based on strict adherence to the rules, saying that trade liberalization has increased productivity and living standards.
The report notes that studies have shown that trade openness is increased by one percentage point, and productivity can be increased by 1.23% in the long run. A Canadian study shows that the most productive industry in Canada has increased its labor productivity by 14 percent and the industry's most competitive industry, with an increase of 15 percent, in the most competitive industries in Canada, as a result of an American free trade agreement in the 1980s.