Globaphobia: COnfronting Fears About Open Trade.(Brief Article)

Economist (US), The, September, 1998

GLOBAPHOBIA: CONFRONTING FEARS ABOUT OPEN TRADE. Edited by Gary Burtless, Robert Lawrence, Robert Litan and Robert Shapiro. Brookings; 162 pages; $35.95; K41.25

CLEAR, concise and occasionally humorous ("To those who believe that reading a book about economics is equivalent to swallowing castor oil, we counsel patience."), this is an excellent summary of the case for globalisation and the muddled thinking that lies behind many objections to it.

Written by a top-notch cast of policy wonks, this book explains why countries benefit from openness and corrects some of the most common misconceptions about American trade. One is that trade is "hollowing out" America since the country supposedly exports low-value goods while importing high-value consumer goods...

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