Corbynomics: Trade
Most people don't know that Corbyn actually opposes/ed the WTO & its predecessor GATT treaties.
Why?
Well, have you seen the state of the Burkina Faso film industry? 1/10
Most people don't know that Corbyn actually opposes/ed the WTO & its predecessor GATT treaties.
Why?
Well, have you seen the state of the Burkina Faso film industry? 1/10
'a huge proportion of power has been handed over to the WTO in the name of promoting the idea of a free market economy all round the world, with all the devastation that will cause for jobs in this country & for living standards in the poorest parts of the world'. 2/11
'There seems to be an understanding that GATT is something that we should all welcome & that anyone who opposes it is somehow a heretic or an anti-Christ & therefore should be allowed to enter the debate.' 3/11
I do not join in any general welcome of the treaty. I have the deepest misgiving about the treaty (to create the WTO)... Proportionately, the people who will come out he worst are those living in the poorest countries of the world [spoiler they didn't]. 5/10
Corbyn doesn't want the removal of trade barriers and lowering of import rates, - he wants developing countries to 'produce the goods they need for a self-sustaining agriculture'.
But who would Corbyn use as an example of self-sufficiency?
But who would Corbyn use as an example of self-sufficiency?
Who? Zimbabwe of course, once one of the richest countries in Africa, now one of the poorest.
Zimbabwe's problems according to Corbyn are nothing to do with Mugabe, but as always all down to US policy.
Zimbabwe's problems according to Corbyn are nothing to do with Mugabe, but as always all down to US policy.
Apparently growing crops that are in demand, like coffee is the wrong thing to do, and has led to 'economic disaster [it didn't] & many people in the west are suffering from hypertension because of all the cheap coffee that they are drinking.'
'I fear that the GATT process does nothing to improve the poorest people. In fact, it is likely to make it worse.'
GATT & WTO rules have lifted billions out of poverty.
GATT & WTO rules have lifted billions out of poverty.
Corbyn supports the imposition of tariffs on goods (making imports/exports more expensive) and the creation of a 'protectionist economy which can provide self-sufficiency'.
Finally, Corbyn thinks that 'free-trade' 'is a recipe for a lower wages & living standards & higher levels of unemployment & for cuts in health services & the welfare state - all in the name of the free market economy.'
How wrong he was/is.
[HC Deb 14 Jun 1994 vol 244] End.
How wrong he was/is.
[HC Deb 14 Jun 1994 vol 244] End.
