Trade

Victor K. Fung gives his point of view as a businessman on what is at stake and why WTO negotiators have an interest in finding common ......

Global rules ..... global production.

Increasingly, production is ..... across different factories in different countries - it is becoming globalized.

Recent World Bank research suggests that countries should complement trade openness with greater flexibility of their investment ..... and labor markets.

Trade stimulates growth by directing resources into their most productive uses both within and ..... industries.

An excessive regulatory ..... will prevent this reallocation of resources from occurring, reducing the prospects for trade-generated growth.

According to a University of Michigan study, the average U.S. family of four still ..... to gain an estimated $7,800 per year if there were total elimination of global barriers to trade in goods and services.

The reason seems to be that they are more ..... to exploitation and so have more to gain from union membership.

The greatest difficulty is to make salaries respond to changes in market demand: the pay structure is highly ..... in the sense that it is extremely difficult to change the relative level of different categories of employees.

Possibly, the staff were attempting to manage their assignents beyond their capacity, like a freighter loaded so heavily that it sinks below its ..... line.