H
HagiaSophia
Guest
"…During the hearings on this monster, French financier, the late Sir James Goldsmith, testified in front of Ernest Hollings committee. He demonstrated that GATT would gut the American textile market. The following are some quotes from the Washington Times, Dec. 6, 1993, which accurately reflect Sir Goldsmith’s statements during the hearings:
Global free trade will force the poor of the rich countries to subsidize the rich in poor countries. What GATT means is that our national wealth, accumulated over centuries, will be transferred from a developed country like Britain to developing countries like Communist China, now building its first oceangoing navy in 500 years. China, with its 1.2 billion people, three Indochinese states with 900 million, the former Soviet republics with some 300 million, and many more can supply skilled labor for a fraction of Western costs. Five dollars in Communist China is the equivalent of a $100 wage in Europe.
It is quite amazing that GATT is sowing the seeds for global social upheaval and that it is not even the subject of debate in America … If the masses understood the truth about GATT, there would be blood in the streets of many capitals. A healthy national economy has to produce a large part of its own needs. It cannot simply import what it needs and use its labor force to provide services for other countries. We have to rethink from top to bottom why we have elevated global free trade to the status of sacred cow, or moral dogma. It is a fatally flawed concept that will impoverish and destabilize the industrialized world while cruelly ravaging the Third World…"
wnd.com/news/article.asp?ARTICLE_ID=44965
Global free trade will force the poor of the rich countries to subsidize the rich in poor countries. What GATT means is that our national wealth, accumulated over centuries, will be transferred from a developed country like Britain to developing countries like Communist China, now building its first oceangoing navy in 500 years. China, with its 1.2 billion people, three Indochinese states with 900 million, the former Soviet republics with some 300 million, and many more can supply skilled labor for a fraction of Western costs. Five dollars in Communist China is the equivalent of a $100 wage in Europe.
It is quite amazing that GATT is sowing the seeds for global social upheaval and that it is not even the subject of debate in America … If the masses understood the truth about GATT, there would be blood in the streets of many capitals. A healthy national economy has to produce a large part of its own needs. It cannot simply import what it needs and use its labor force to provide services for other countries. We have to rethink from top to bottom why we have elevated global free trade to the status of sacred cow, or moral dogma. It is a fatally flawed concept that will impoverish and destabilize the industrialized world while cruelly ravaging the Third World…"
wnd.com/news/article.asp?ARTICLE_ID=44965
