THE TELEGRAPH: Gordon Brown and George W. Bush have one thing in common. No, not their brand of toothpaste, nor a fondness for jeans and casual jackets. Nor a willingness to see the Iraq war through to victory. Nor a belief that tax cuts can stimulate economic growth.
What they have in common is a belief that their nations and the world are served by the preservation of the free trading regime that has contributed so much to economic welfare in the post-World War Two period.
Both have a relaxed attitude towards the free movement of people, and are therefore reluctant to prevent immigrants from joining their nations' workforces.
Both resist efforts to raise barriers to the free flow of goods into their countries, with an occasional politically necessitated lapse on Bush's part. And both favour the free flow of capital and welcome the investment of sovereign wealth funds in their nations' financial and other institutions.
The British Prime Minister and the American President might be the last two men standing in the fight against protectionism. Unless you count Tony Blair and John McCain, which you probably shouldn't, since Blair is otherwise engaged, and McCain has a long way to go before he sits in the Oval Office where he can affect trade policy.
All three pillars of free trade - free movement of people, goods, and capital - are under assault, or soon will be. Gordon Brown and George Bush's free trade >>> By Irwin Stelzer
Mark Alexander (Paperback)
Mark Alexander (Hardback)
