35.
36.
37.
38.
MR ROBERT NG
PROF POON CHUNG-KWONG
MR HEINZ A RUST
MR SHAO YOU-BAO
39.
40.
DR VICTOR SIT FUNG-SHUEN MR TAN MAN-KOU
41.
DR LAURIE WAN
42.
DR WANG LIANG-HUEW
43.
DR OWEN WONG HONG-HIN
44.
MR DAVID WONG SHOU-YER
45.
46.
MR GORDON WU YING-SHENG PROF YEUNG YUE-MAN
47.
MR YIP WAH
MONDAY, NOVEMBER 1, 1993
PROTECTIONIST TRADE POLICIES MADE AT EXPENSE OF CONSUMERS
*
PROTECTIONIST TRADE POLICIES MAKE GOODS MORE EXPENSIVE FOR CONSUMERS, LIMIT THEIR FREEDOM OF CHOICE, AND GIVE AN UNEARNED BONUS TO THOSE RUNNING THE DOMESTIC INDUSTRY, THE DIRECTOR-GENERAL OF TRADE, MR TONY MILLER SAID.
IN HIS LUNCHEON ADDRESS TO THE 24TH WORLD KNITWEAT CONGRESS TODAY (MONDAY), MR MILLER SAID PROBLEM WITH THESE POLICIES AND THE INSTRUMENTS USED TO IMPLEMENT THEM WAS THAT THEY ATTEMPTED ΤΟ INTERFERE IN AN OTHERWISE NATURAL FLOW.
"MOST SUCH POLICIES HAVE TRADE. THEY RESTRICT OR DIVERT EXPENSIVE, HE SAID.
Ti
||
IT.
BY DEFINITION, A NEGATIVE
THEY MAKE MANUFACTURING
IMPACT ON
MORE
REMIND US ALL OF THE BASIC ECONOMIC ARGUMENTS REQUIRED TO RESIST
"THE GATT IS DESIGNED TO FACTS," HE SAID. "AND TO PROVIDE THE DOMESTIC PRESSURE FOR PROTECTION.
"THAT IS WHY WE HAVE BEEN WORKING SO HARD IN THE URUGUAY ROUND TO REINFORCE THE GATT, HE ADDED.
*
THE COST FOR "PROTECTION" OF THE
"PROTECT
DOMESTIC INDUSTRY'S WORKERS
WAS EXACTED FROM CONSUMERS, HE SAID, THROUGH EITHER HIGHER PRICES OR HIGHER TAXES, WHICH GO INTO THE POCKETS OF INEFFICIENT MANUFACTURERS.
MR MILLER QUOTED A RECENT OECD/WORLD BANK RESEARCH REPORT WHICH PUT THE CURRENT ANNUAL COST OF TRADE PROTECTION WORLDWIDE AT U.S. $450 BILLION.
"IN EUROPE, THE AVERAGE FAMILY OF FOUR PAYS AN ADDITIONAL $30 A WEEK, EVERY WEEK, ON FOOD SIMPLY то KEEP EUROPEAN FARMERS
COMFORTABLE IN THEIR FIELDS, HE SAID.
IN THE U.S
1 +
HE ADDED, IT COST BETWEEN U.S. $46,000 ΤΟ U.S. $52,000 EVERY YEAR FOR EVERY JOB RETAINED IN THE TEXTILES AND APPAREL INDUSTRY, WHICH IS MORE THAN THE EARNINGS OF THE WORKERS SO "PROTECTED",
/PROTECTIONISM IN