Open AccessTrade Liberalization, Protectionism and Interdependence: Gatt Studies in International Trade.—By Richard Blackhurst, Nicolas Marian and Jan Tumlir. Geneva: General Agreement on Tariffs and Trade. November, 1977. pp.79.
Author(s) -
Surraiya Nishat
Publication year - 1978
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v17i2pp.262-263
Subject(s) - protectionism , free trade , prosperity , economics , international trade , liberalization , international economics , trade war , commercial policy , trade barrier , investment (military) , political science , law , economic growth , market economy , politics , china
The study under review is a brief account of issues concerningtrade liberalization and protectionism. The authors have extensivelyargued in favour of free trade and have heavily criticized theprotectionist policies presently adopted by different nations. Thereport is divided into three sections. In section I the main trends inproduction and trade from World War II to the present have beenreviewed. The three post-war decades experienced unprecedented rates ofeconomic growth and prosperity. The three major factors which areresponsible for this impressive expansion of post-war trade are listedby the authors as "institutional development, technological innovationsand demographic trends". In particular the liberalization ofinternational trade, investment and the freeing of the world economyfrom the constraints imposed by the self-destructive nationalisticpolicies of the 1930's have played a major role in thisdevelopment.