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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (18975)	5/14/2002 6:52:07 PM
From: carranza2	Read Replies (1) \| Respond to of 74559

No, it doesn't look like a good thing to me, but what's the alternative? Trust me, I'm no liberal, but the notion that poor countries should compete based on the cost of labor is something that ultimately seems self-destructive to the richer folks. I'm halfway convinced that the mess in the Middle East is as much caused by poverty as it is by religious fanaticism. If the Islamofascists were better off, I don't think they would spend all of their time trying to figure out new and improved ways to terrorize us. What's the alternative? Perhaps the only way to improve a nation's lot is to go through the laborious process of slowly accumulating capital, developing an infrastructure, and lifting all boats with the tide. That may require free trade. Everything else seems to have failed. Look at all the socialist countries--failures each and every one of them, except for the European ones which lifted themselves through trade and industry before becoming socialistic.