Ha-Joon Chang, on the false economy of unfair trade deals

Renowned economist Ha-Joon Chang explains why the current push from European Union to open up developing countries' economies is keeping people in poverty.

Ha-Joon uses the examples of how Finland's economic policies allowed a company like Nokia to develop without having a worry about competing with other multinational companies in its infancy.

You can help support developing countries to get a better trade deal from the EU. Visit www.oxfam.org.uk/maketradefair.

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Category:

News & Politics

Tags:

• Ha-Joon
• Chang
• EPA
• Make
• Trade
• Fair
• Deal
• European
• Union
• ACP
• EU
• Oxfam

[teambrizzo]

Thanks, this makes a very complicated issue a bit easier to understand.

[dearbosie1]

Wrong. Your argument presupposes that Developing countries will never have the potential to grow their industries. On what do you base that? Just as this guy's son will not have a human capital rich future if he goes to work at age 6, developing country industries will have no chance of a rich future if they're exposed to free trade now. Argument still stands.

[MachYew]

@EasyEs Yeah but you never had full time work imposed on you when you were 7 years old, preventing you from pursuing your uni education - which would be much closer to his analogy than your example of taking shitty jobs through your studies.

His analogy isn't the best, but its even generous to those who argue for these policies, because the reality of international trade arrangements is much worse. Local industry often gets wiped out and swallowed up in open competition with the west.

[rbl777]

@Abuhafsah2009 hold on a sec....

okay i fixed it

your welcome

[rbl777]

@dearbosie1 you still think so after the crisis?

[Abuhafsah2009]

fix the Audio please, otherwise good video, i'm starting to like this guy

[toseeornot2see]

These so called "free trade" agreements, aren't actually free; plainly because the larger economy - for instance the US - provides large subsidies to its own businesses, while deterring the weaker economy from providing such subsidies.

[Off2SeeTheWizard]

@LibertyDownUnder Yes, government must regulate trade. In turn, the *people* must get off their couches and turn off their TVs and regulate government by voting, by protesting - by constant and vigilant participation. Otherwise, private agencies and private money "regulate" trade - in their own interests ONLY. How does this promote freedom for the greatest number? Obviously, it doesn't.



[LibertyDownUnder]

Big Government agencies and corporations messed up world trade, and now the solution is for bigger Government agencies to regulate trade?

This man's teacher was an openly Marxist economist. So naturally, his solution to everything is to let Governments take over and regulate it.

[SoundOfDawn]

Through "Bad Samaritans", Dr. Chang has done a great job shedding light on facts of history kept away from discussion on free trade today. However, these ideas are not new, in fact, one of the most prominent figures that advocated views of economic nationalism was none other than one of the Founding Fathers of United States, Alexander Hamilton.

[fenderboy88]

@mtw02 How can fair trade be 'fair'',please expand?

[Lodatzor]

It's such a shame that I find it so hard to listen to this guy. Not because of what he is saying, but because his accent is so thick that my brain switches off!

I'm a bad person, I know, but would subtitles kill ya? :(