The Next Trade Breakthroughs
Though the global economy is slowing, three important opportunities for growth from trade liberalization are being neglected. The lesson of the North American Free Trade Agreement (NAFTA), which celebrates its 20th birthday this year, is that such opportunities should not be missed.
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STANFORD – Economic news is grim all around the world. This year’s output growth has been disappointing, and the International Monetary Fund expects only a slight improvement in 2015. Europe may be sliding back into recession, with even the once-robust German economy teetering on the brink. China is downshifting, and Brazil, Russia, and India are struggling to avoid a stall.