Business Today

Free trade cannot be one sided

Lower import barriers work only if others also play fair

In the past 27 years, the tendency has been to shed all barriers to trade, both tariff and non tariff. As per the constitution of the World Trade Organization, or WTO, if any country raises barriers to trade, the affected country can use the dispute settlement mechanism to reverse the same.

Till recently, no country was arguing explicitly in favour of protectionism; rather, barriers erected earlier were

You're reading a preview, sign up to read more.

More from Business Today

Business Today2 min read
Leaderspeak
Q. The biggest challenge you faced in your career A. The biggest challenge came in 2004/05 when we were raising an initial capital of Rs 2.7 crore for Ujjivan to apply for an NBFC licence and start our operations. It took us over a year to persuade f
Business Today4 min read
Stay Healthy, Office Goers
Sitting at the office desk at least eight hours a day, five days a week, staring at all sorts of displays most of the time (PCs, phones, tabs or even televisions) and gorging on wrong foods and drinks make it difficult to stay healthy. Artificially l
Business Today4 min readSociety
Far From Healthy
It is a common practice for many companies to be concerned about their employees' health and offer annual or bi annual healthcare check up plans. Most of these are in the range of Rs 10,000 25,000, and are offered through tie ups with corporate hospi