VOA News – Australia, Japan Consider Free-Trade Agreement
Australia and Japan have agreed to begin a feasibility study on a free-trade agreement between the two countries. However, an agreement will be years away.
What would be even better would be a Pacific Rim Free Trade Agreement (barring the still better utopian outbreak of free trade as countries around the world realize the benefits of unilaterally dropping trade barriers). I’m surprised to see Japan involved. Perhaps at least they are beginning to realize that mercantilism is part of what’s caused their economic shipwreck.
Next step, convincing the US steel, textile and lumber industries of the same thing.