Saturday, February 14, 2009

Evil Protectionism

On first glance, Finanace Minister Nakagawa's remarks might tempt sarcastic comments of "hypocricy." However, after reading the article and despite increasing misgivings about mythical free trade (if free means "free"), it is difficult to disagree with him:

"For the US, Europe and other countries that sought liberalisation from Japan to run to protectionism is an absolute evil," Nakagawa told reporters before leaving for the G7 meeting in Rome....

..."While protectionism may be good for a single country, it is negative for the entire world. Japan would like to make concrete proposals" to prevent a trend of favouring domestic industries, said Nakagawa. AFP

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