Was reading about the recent row over textiles between China and the rest. What does these EU, US guys think? They talk about free trade, reforms, open up etc... and they restrict their market. They knew about the opening up of textile market long back and they were behind many countries to get their markets opened up. Now when the competition began they are running scared for cover behind various excuses....
The above comment doesnt mean I support free trade, I am against it... I think free trade will soon die. Every nation will have its own reason to protect local economy... See in textiles if EU bans chinese stuff, businesses will get their stuff from Vietnam or Malaysia or Thailand, as its cheaper there. So the idea behind the ban - to help local market - will not work. So they will have to ban everyone or put barriers for entry. That means death of free trade.
This will be the same in most of the industries. Nations can trade only in things they can't produce enough locally.
If the birth rate is going the way it is soon Europe will have a tough time to find work force. So either they will have to allow more immigration from third world or out source. How much will a state out source? that means more open immigration policy. But the way world is moving to the right many people won't be pushing for that... So then what happens....
And more over Asian countries are fast picking up...
I am no economist, but its an intresting scenario to think of....
luv
pp
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