COVER STORY: Where Is the Global Trade Regime Heading? - Searching for an Ideal International Trade Discipline
Whereas trade liberalization is today considered a strategy for export growth by all major industrial nations, which have a limited capacity in fiscal policy to spur their economies due to growing budget deficits, there are many people who oppose it.
Japan SPOTLIGHT is on the side of capitalism and supports trade liberalization as a major growth strategy. We believe that competition will lead to increasing economic welfare in terms of income and job growth, and thus capitalism can ensure a path to happiness. For the May/June issue, we are highlighting in this regard a wide range of trade policy arguments led by various intellectuals supporting trade liberalization as a desirable growth strategy.