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International Trade

Free, Fair and Open?

image of International Trade
International trade affects the price and availability of practically everything we buy. It also plays a role in many other domains, including jobs, the environment and the fight against poverty. OECD Insights: International Trade argues that prosperity has rarely, if ever, been achieved or sustained without trade. Trade alone, however, is not enough. Policies targeting employment, education, health and other issues are also needed to promote well-being and tackle the challenges of a globalised economy.

"The OECD is a major source for insightful analyses of current trade issues. It also plays a role in disseminating skilfully the results of less accessible writings on trade. This short book is a valuable addition to the latter endeavour and should be on the shelf of policy makers." 

-Jagdish Bhagwati, Columbia University

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Trade and Employment

Jobs are created and lost all the time. When the jobs that are lost reappear again soon afterwards in another country, it can seem that international trade makes unemployment worse or that it makes jobs less secure and lowers wages. There is clear evidence that open economies achieve higher levels of wages and economic growth. But trade is only one of many factors at play. A wide array of policies is needed, from education and health to infrastructure and innovation. Effective labour market policies are needed to ensure that the benefits are shared equitably.

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