Perpetuating the global division of labour: Defensive free trade and development in the third world / Yakub Halabi.

Format:

Book

Government document

Author/Creator:

Halabi, Yakub, author.

Language:

English

Subjects (All):

Economic and Social Development.

Local Subjects:

Economic and Social Development.

Physical Description:

1 online resource (30 pages)

Contained In:

Asia-Pacific Development Journal Vol. 20, no. 1, p. 91-120 20:1<91 2411-9873

Place of Publication:

[Place of publication not identified] : United Nations Economic and Social Commission for Asia and the Pacific, 2013.

System Details:

text file

Summary:

This article contains an examination of whether free trade coupled with the neoliberal principles of the Washington Consensus has been turned into a defensive strategy used by developed countries in order to maintain and perpetuate the division of labour in the global market between developed and developing countries. The question is raised of whether developed countries are worried that some highly populated emerging economies may follow the path of the newly industrialized economies. As a pre-emptive measure, developed countries adopt free trade as a defensive mechanism that would create a level playing field or "fair trade" in the global market and would deliberately stifle infant, high value added industries from thriving within emerging economies. On a level playing field, infant industries cannot compete against the wellestablished corporations of developed countries. Finally, free trade also leads to another indirect outcome: it intensifies competition among developing economies in low value added goods and consequently lessens a rise in the income of unskilled labour in these economies.

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