Friday, June 26, 2009

over-dependence on foreign trade?

According to the German Finance Minister, Germany must begin to reduce its dependence on foreign trade.

My comment:

1. does that include intra-EU trade?
2 should the EU (as a whole) do the same?
3. others (countries or "regions" (eg Mercosur, ASEAN, etc)?

One of the "troubles" with foreign trade is that even today it is not "free" (of quotas and tariffs) even between the WTO (ex-GATT) member countries and that economies, most if not all, that relied up to 50-80% on exports trade are being hit the hardest by the global economic crisis.

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