Developing Countries Need Trade

Developing Countries Need Trade. By Pascal Lamy
WSJ, Jul 06, 2009

"History tells us that no poor country has ever become wealthy without trade. Moreover, many developing country success stories -- Singapore, South Korea, Chile, China and Malaysia, to name only a few -- have, in recent decades, seen their national incomes grow by a percentage point or more per year as a result of open trade policies than would have been the case had they remained closed. The extra funds generated during this period have enabled them to respond to the crisis with stimulus packages that have prevented the crisis from turning into a protracted recession with its inevitable human costs."