The late Sir James Goldsmith warned that GATT would open Western labor markets to competitio­n with 4 billion poorer Asians

YouTube – 1. A prophetic interview with Sir James Goldsmith in 1994 Pt1

http://des­ip.igc.org­/gatt01.ht­ml
Goldsmith on GATT: Part 1

“THE NEW UTOPIA: GATT AND GLOBAL FREE TRADE
by SIR JAMES GOLDSMITH

Federal Document Clearing House Congressio­nal Testimony

SENATE COMMERCE GATT IMPLEMENTA­­TION
October 5, 1994

Global free trade has become a sacred principle of modern economic theory, a sort of generally accepted moral dogma. That is why it is so difficult to persuade politician ­s and economists to reassess its effects on a world economy which is changing radically.

The ultimate objective of global free trade is to create a worldwide market in products, services, capital and labour. Its instrument to achieve this is GATT, the General Agreement on Tariffs and Trade.

I believe that GATT and the theories on which it is based are flawed. If it is implemente­d, it will impoverish and destabiliz­­e the industrial ­ized world while at the same time cruelly ravaging the third world…”

Other Western countries, such as Germany, took steps to protect their labor markets from global labor arbitrage.

But the U.S. decided its workers should live by the Iron Law of Wages.

- OldTulsan

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