The benefits of trade

Abstract

Global sentiment has shifted against trade liberalisation and globalisation. There are concerns that increased imports are causing job losses and that economic integration initiatives like the Trans-Pacific Partnership (TPP) are restricting governments’ sovereign rights to legislate. Politicians are tapping into this rising tide of protectionism, most notably in the US and UK, but also closer to home in New Zealand. Against this backdrop, it is timely to remind ourselves why trade matters for Kiwi living standards.