- Joined
- Oct 17, 2007
- Messages
- 11,862
- Reaction score
- 10,300
- Location
- New York
- Gender
- Male
- Political Leaning
- Centrist
The whole free trade movement was masked as a helping hand to countries struggling economically.... it can be argued that yes, it has helped them, but not without feeding our own corporations' greed first. Free trade was America's way of exploiting laborers in other countries for next to nothing while simultaneously forcing our products on them and nearly eliminating their meager profits from exports they once had.
IMO, that's a far too harsh perspective. Indeed, former Singapore Prime Minister gives multinational corporations (MNC's) enormous credit for facilitating Singapore's rapid economic development. In his memoirs, he recounted:
General Electric (GE) set up in 1970 six different facilities for electrical and electronic products, circuit breakers and electric motors. By the late 1970s, GE was to become the largest single employer of labour in Singapore. American MNCs laid the foundations for Singapore's large high-tech electronics industry. Although we did not know it then, the electronics industry was to mop up our unemployment and turn Singapore into a major electronics exporter in the 1980s.
Source: Lee Kuan Yew, From Third World to First: The Singapore Story: 1965-2000, Singapore: Times Editions, 2000, p.85.