developing-nations-need-protectionism-says-author

Developing nations need protectionism, says author

In a book titled Bad Samaritans, a South Korean economics professor exposes the myth of free trade and the secret history of capitalism.
The world may not be flat after all. Ha-Joon Chang challenges Thomas FriedmanÆs blindly optimistic and invariably Western self-serving view that globalisation is a panacea for poverty.

Chang, a South Korean who grew up during the nationÆs so-called economic miracle and is now an economics professor at Cambridge University, puts together a tidy piece of historical evidence that shows that free trade often hurts a nation. Many of todayÆs strongest economies û from the US and the UK to his own South Korea û got that way through protectionism and government intervention in industry.

Like many in the region, he blames the World Bank, the IMF and the WTO for policies that benefit the rich...
¬ Haymarket Media Limited. All rights reserved.

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