“Free trade” means big countries dominating smaller ones. In what way can a small Caribbean nation compete with the US for example? Say they have a self sustaining economy. They have farms to feed their people, and textile mills to clothe them. Free trade opens their markets up, and they are quickly overwhelmed by the mega corps and their economies of scale. Now local industry is driven out of business or subsumed by foreign competitors. Maybe tourism? Multinationals buy up all the hotels, beaches and restaurants. Locals get minimum wage jobs serving and cleaning. Any attempt at “protectionism” incurs penalties under the free trade agreements.
Well, Taiwan and Singapore are able to be competitive in the world market, despite being very small and lacking major resource advantages or big militaries. They do this by developing very sophisticated expertise and pressing the few very particular advantages they have.
There are exceptions of course, but they are often less about “finding a niche”, and more about politics. Taiwan is an important client state of the US for geopolitical strategy. Such relationships can include more favorable trade deals. I don’t know much about Singapore except that that it’s all about the finance “industry”. Seems like it’s the place where Eastern and Western billionaires can make financial transactions with each other.
“Free trade” means big countries dominating smaller ones. In what way can a small Caribbean nation compete with the US for example? Say they have a self sustaining economy. They have farms to feed their people, and textile mills to clothe them. Free trade opens their markets up, and they are quickly overwhelmed by the mega corps and their economies of scale. Now local industry is driven out of business or subsumed by foreign competitors. Maybe tourism? Multinationals buy up all the hotels, beaches and restaurants. Locals get minimum wage jobs serving and cleaning. Any attempt at “protectionism” incurs penalties under the free trade agreements.
Well, Taiwan and Singapore are able to be competitive in the world market, despite being very small and lacking major resource advantages or big militaries. They do this by developing very sophisticated expertise and pressing the few very particular advantages they have.
There are exceptions of course, but they are often less about “finding a niche”, and more about politics. Taiwan is an important client state of the US for geopolitical strategy. Such relationships can include more favorable trade deals. I don’t know much about Singapore except that that it’s all about the finance “industry”. Seems like it’s the place where Eastern and Western billionaires can make financial transactions with each other.