THURSDAY, JUNE 23, 1994
MR MILLER TOLD THE LUNCHEON MEETING THAT "WE IN HONG KONG COULD NOT AGREE MORE WITH THESE SENTIMENTS, ARDENT ADVOCATES THOUGH WE OF BOTH LABOUR RIGHTS AND ENVIRONMENTAL CONSERVATION,"
HE RECALLED THAT HONG KONG HAD LOBBIED AGAINST THE CLINTON ADMINISTRATION'S LINKING CHINA'S MOST FAVOURED NATION TRADING STATUS WITH IMPROVEMENTS IN THAT COUNTRY'S HUMAN RIGHTS RECORD, SIMPLY BECAUSE SUCH SANCTIONS WOULD BE COUNTER-PRODUCTIVE. LINKAGES IN OTHER AREAS WERE JUST AS LIKELY TO FAIL.
"WHILE TRADE SANCTIONS ARE OFTEN SEIZED ON AS A SEEMINGLY CONVENIENT LEVER BY ADVOCATES OF A VARIETY OF NON-TRADE REFORMS, GENERALLY SPEAKING THEY DO MORE HARM THAN GOOD, HE SAID.
"
"TRADE SANCTIONS WILL NOT IMPROVE LABOUR CONDITIONS, THEY WOULD HURT MOST THOSE THEY AIMED TO HELP."
INSTEAD
"TRADE SANCTIONS WILL NOT HELP TO IMPROVE THE ENVIRONMENT, THOSE ALREADY IN PLACE ARE RESPONSIBLE FOR INCALCULABLE DAMAGE.
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SPEAKING ON THE RELATIONSHIP BETWEEN TRADE AND THE ENVIRONMENT, MR MILLER POINTED OUT THAT FREE TRADE WAS ENVIRONMENTAL-FRIENDLY.
"JUST AS FREE MARKET FORCES OPERATING INTERNALLY ENSURE THE BEST USE OF RESOURCES WITHIN A COUNTRY, SO FREE TRADE INTERNATIONALLY ENSURES THE GREATEST GOOD FOR THE GREATEST NUMBER GLOBALLY, EXPLAINED.
"BY
+I
HE
ENSURING THE MOST EFFICIENT USE OF RESOURCES ON A GLOBAL SCALE, FREE TRADE HELPS TO CONSERVE THEM.
"ALL BARRIERS ΤΟ TRADE, ALL SUBSIDIES, ALL PROTECTIONIST DEVICES ARE ENVIRONMENTALLY UNFRIENDLY, SIMPLY BECAUSE THEY INTERFERE WITH THIS GLOBALLY EFFICIENT USE OF RESOURCES.'
*T
IN THIS CONTEXT, MR MILLER HIGHLIGHTED THE EXTRAORDINARILY HARMFUL CONSEQUENCES FOR THE GLOBAL ENVIRONMENT OF CURRENT DISTORTIONS TO WORLD TRADE IN AGRICULTURAL PRODUCTS CAUSED BY MASSIVE SUBSIDIES AND OTHER PROTECTIONIST DEVICES.
FOR EXAMPLE, HE SAID, SUBSIDIES ENCOURAGED THE USE OF LAND WHICH WOULD NOT OTHERWISE BE FARMED AND WHICH REQUIRED USE OF FERTILISERS AND PESTICIDES.
MARGINAL EXCESSIVE
"TRADE POLICIES AND ENVIRONMENTAL POLICIES NEED INCOMPATIBLE. FREE TRADE AND SUSTAINABLE DEVELOPMENT COMPATIBLE OBJECTIVES.
ARE
NOT BE PERFECTLY
"INSTEAD OF LOOKING AT TRADE SANCTIONS AS A WAY .OF ENFORCING AND ENVIRONMENTAL STANDARDS INTERNATIONALLY, WE SHOULD BE SEEKING OUT ELIMINATING ALL THE EXISTING PROTECTIONIST TRADE MEASURES WHICH WASTE RESOURCES AND DAMAGE THE ENVIRONMENT.
"
TURNING TO COMPETITION POLICY, MR MILLER SAID TRADE RESTRAINTS TOO OFTEN RESULTED FROM CLOSED-DOOR DEALS WITH VESTED INTERESTS.
"THESE DISENFRANCHISE CONSUMERS, REDUCING THEIR FREEDOM OF CHOICE AND FORCING THEM TO PAY MORE, HE SAID).
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