Free trade and freedom should be linked, says the businessman and author
ADAM SMITH is still the North Star for free-traders. But the 18th-century economist, who always placed national defence and security above wealth, would turn in his grave if he could see how free trade has been exploited in recent decades to the advantage of totalitarian systems and to the detriment of democracies. If we go on like this, we will get Marx instead of Smith.
Western countries have, in any case, contributed to the problem by outsourcing their climate sins to China—shifting production to an economy in which environmental protection is poor, child labour is accepted and human rights are flexibly defined. The West’s current approach to trade is rooted in dependency. A large portion of antibiotics prescribed in America are made with ingredients that come from China.
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