Fed Chair On Free Trade and Globalization

Ben Bernanke gives his thoughts on Globalization:

Trade benefits advanced countries like the United States, but open trade is, if anything, even more important for developing nations. Trade and globalization are lifting hundreds of millions of people out of poverty, especially in Asia, but also in parts of Africa and Latin America. As a source of economic growth and development in poor countries, trade is proving far more effective than traditional development aid.

To sum up, international trade in goods, services, and assets, like other forms of market-based exchange, allows us to transform what we have into what we need or want under increasingly beneficial terms. Trade allows us to enjoy both a more productive economy and higher living standards.

With our strong institutions, deep capital markets, flexible labor markets, technological leadership, and penchant for entrepreneurship and innovation, no country is better placed than the United States to benefit from increased participation in the global economy. If we resist protectionism and isolationism while working to increase the skills and adaptability of our labor force, the forces of globalization and trade will continue to make our economy stronger and our citizens more prosperous.

His full remarks can be found here.

2 Responses to “Fed Chair On Free Trade and Globalization”

  1. Zulma Aguiar says:

    You better be getting paid to be such a Sell out and VENDIDO!
    you’re ignorant and should commit suicide, you are a disgrace to the Latino Community World wide, you know nothing about Free Trade Agreements if you’re saying its pulling people out of poverty you ignorant fool!

  2. Nice talking to you again Zulma. Always a pleasure. 😉

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