Article: Worse Than Tsunami, Trade Protectionism Hurts Third World Citizens
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Worse Than Tsunami, Trade Protectionism Hurts Third World Citizens
Last Thursday, I was heartened to read the news that my church, Southeast Christian Church in Louisville, KY, had collected $732,000 from its members (beyond its weekly giving) for tsunami relief in Southeast Asia. That partially offset the news I had read the previous Thursday-- as reported in the Wall Street Journal-- that tariffs imposed on Sri Lanka were nearly $250,000,000 in 2003.
Nearly all of that amount was taxes imposed on the Sri Lankan textile industry. And the amount imposed on that one foreign industry exceeded all of the tariffs imposed on all trade with all six Scandinavian countries-- despite the fact that those countries export nearly 12 times more to the U.S., have about 10 times more GDP than
Sri Lanka's, and have people whose per capita incomes ar...
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