Unexpected effects of trade with low-income countries

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Pierre-Noël GIRAUD

Professor of economics, École des mines de Paris

Jean-Marc OURY

Director, Compagnie Générale des Eaux

Jean-Claude THOENIG

Director, Public Policy Analysis Group, CNRS

Seminar Guest speakers | Monday September 26, 1994

Trade with low-income countries does not necessarily lead to unemployment in industrialised nations ; but it may substantially widen the disparity of incomes within both kinds of countries. It may also lead to the disappearance of the middle class, as can be seen in the US. This is not the only possible change, but it is the likely result of non-intervention on the part of governments in regulating international exchange or income policy. This thesis provoked a lively discussion.

The entire article was written by:

Michel BERRY

Pierre-Noël GIRAUD

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