A
number of models – developed
in particular in the World
Bank – show large gains
for developing countries through
trade liberalisation at the
World Trade Organisation.
These models are, however,
not just simplistic, they
also suffer from a number
of fundamental flaws. The
actual gains are far smaller
for developing countries and
far greater for the rich countries.
The models ignore the risks
of displacement, economic
downturns and rising debt.
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