Free trade is solemnly revered in theory but largely ignored in practice throughout the world. In recent years commerce between nations has become increasingly burdened with restrictions as governments everywhere have sought to protect their industries from foreign competition.
To brake the drive toward ever greater protection, the Geneva-based General Agreement on Tariffs and Trade last week issued a long-awaited study on ways to help lift trade barriers. The 60-page report was put together by a group of seven public and private officials who included Democratic Senator Bill Bradley of New Jersey and Pehr Gyllenhammar, chairman of Volvo. If global commerce...
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