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In the Balance: The Uruguay Round of International Trade Negotiations

The removal of barriers to international trade has been a powerful stimulus to economic growth in the post-war period. World trade has grown on average 2 per cent faster than GNP throughout this period. Countries which deliberately sought to make themselves competitive externally have grown much faster than countries which relied on their domestic market. By contrast, communist countries, where the system discouraged external trade, have fallen steadily behind. The consequence for most countries has been a steadily growing share of their economy which is exposed to international competition.