Subscribe Login
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
    • Home
    • News
      • Latest News
      • Cartoon
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • International
      • #
    • Business
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
    • Home
    • News
      • Latest News
      • Cartoon
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • International
      • #
    • Business
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
  • Home
  • News
  • Latest
  • Business
  • Cartoon
  • Games
  • Food Awards
  • Health
  • Entertainment
    • Bookends
  • Regional
  • Sports
    • Sports
    • World Cup
    • World Champs
    • Olympics
  • All Woman
  • Career & Education
  • Environment
  • Webinars
  • More
    • Football
    • Letters
    • Advertorial
    • Columns
    • Editorial
    • Supplements
  • Epaper
  • Classifieds
  • Design Week
Survey finds scepticism about trade’s benefits
There are many dysfunctional aspects of trade in Jamaica, both domestic and international.
Business, Financials
September 16, 2014

Survey finds scepticism about trade’s benefits

WASHINGTON, USA — AMERICANS, Japanese and many Europeans aren’t sold on the benefits of trade. They doubt that global economic ties create jobs or raise wages, an international survey conducted by the Pew Research Center shows.

But people in China and other low- and middle-income countries are far more convinced that trade delivers jobs and higher wages, Pew said yesterday in releasing the results of its survey of 48,643 people in 44 countries.

The centre found that 50 per cent of Americans say trade destroys jobs, while just 20 per cent say it creates them. Only Italians — 59 per cent of whom see trade as a job killer — have a more negative view. The French and Japanese are also far more likely to view trade as a job destroyer than as a job creator.

Similarly, Americans are far more likely (45 per cent to 17 per cent) to say trade reduces wages, instead of raising them. The French, Italians, Japanese and Greeks agree.

In China, 67 per cent say trade creates jobs, and 61 per cent say it raises wages. People in most emerging-market countries, from Vietnam to Tunisia, share that positive view of trade.

China’s support for trade isn’t surprising considering that “wages in China have been growing 10 per cent per year on average for a decade while exports have been growing by 15 per cent per year,” said Bruce Stokes, director of Pew’s studies of global economic attitudes.

The United States, by contrast, has lost millions of manufacturing jobs over the past two decades and has endured “stagnating and declining wages for a generation” Stokes said.

Indeed, an academic report published last month by the National Bureau of Economic Research found that trade competition with China had cost the United States more than two million jobs from 1999 to 2011.

Americans’ sceptical view of globalisation “makes all the sense in the world”, Stokes said.

Around the world, people also have ambivalent feelings about foreign investment: They tend to support foreign companies building factories in their countries, but they are far less enthusiastic about foreign companies buying local firms: 67 per cent of Americans, 76 per cent of Japanese, 79 per cent of Germans and 50 per cent of Chinese take a dim view of foreigners buying local companies.

The doubts about trade in advanced economies could make it harder for the United States to negotiate ambitious trade agreements in Asia and Europe, Pew said.

The US government, arguing that expanded trade creates jobs and stimulates economic growth, is negotiating a major free trade agreement with Japan and 10 other countries in the Asia-Pacific region. It is also working on another trade deal with the 28-country Europe Union.

The sceptical attitudes toward trade in many of the countries involved in the negotiations “could complicate current government efforts to further deepen and broaden global markets,” the Pew report said.

{"website":"website"}{"jamaica-observer":"Jamaica Observer"}
img img
0 Comments · Make a comment

ALSO ON JAMAICA OBSERVER

National Trials 2025: Knight eyes first national 400m hurdles title
Latest News, Sports
National Trials 2025: Knight eyes first national 400m hurdles title
June 26, 2025
KINGSTON, Jamaica — Andrenette Knight sounded a warning that she will be hard to beat in Saturday’s final of the women’s 400m hurdles after leading th...
{"jamaica-observer":"Jamaica Observer"}
Jamaica Sotheby’s Realty and Tryall Club 5K Eco Run returns August 2025
Latest News, Sports
Jamaica Sotheby’s Realty and Tryall Club 5K Eco Run returns August 2025
June 26, 2025
The 5K Eco Run returns to the grounds of The Tryall Club in Hanover on Sunday, August 24, 2025. Registration for the run opened in June and persons in...
{"jamaica-observer":"Jamaica Observer"}
Forex: $161.47 to one US dollar
Latest News
Forex: $161.47 to one US dollar
June 26, 2025
KINGSTON, Jamaica — The United States (US) dollar on Thursday, June 26, ended trading at $161.47, up by twenty-six cents, according to the Bank of Jam...
{"jamaica-observer":"Jamaica Observer"}
Health authorities meet over 24 reported deaths of babies at Victoria Jubilee Hospital
Latest News, News
Health authorities meet over 24 reported deaths of babies at Victoria Jubilee Hospital
June 26, 2025
KINGSTON, Jamaica — Health authorities are now meeting to assess reports of the deaths of 24 babies at the Victoria Jubilee Hospital in Kingston since...
{"jamaica-observer":"Jamaica Observer"}
National Trials 2025: St Vincent’s Maloney leads women’s 800m first round
Latest News, News
National Trials 2025: St Vincent’s Maloney leads women’s 800m first round
June 26, 2025
KINGSTON, Jamaica — St Vincent and the Grenadines’ Shafiqua Maloney led the first round of the women’s 800m at the opening session of the Jamaica Athl...
{"jamaica-observer":"Jamaica Observer"}
Direct Nassau-MoBay flights driving regional tourism growth — Bartlett
Latest News, News
Direct Nassau-MoBay flights driving regional tourism growth — Bartlett
June 26, 2025
KINGSTON, Jamaica — Minister of Tourism, Edmund Bartlett, has welcomed the tourism growth between Nassau, The Bahamas and Montego Bay, Jamaica, follow...
{"jamaica-observer":"Jamaica Observer"}
JFF promises pleasing decision for angry fans after Gold Cup disappointment
Latest News, Sports
JFF promises pleasing decision for angry fans after Gold Cup disappointment
RACHID PARCHMENT, Digital Sports Coordinator, parchmentr@jamaicaobserver.com 
June 26, 2025
Jamaica Football Federation (JFF) President Michael Ricketts says several issues will be addressed regarding what he describes as a poor showing by th...
{"jamaica-observer":"Jamaica Observer"}
National Trials 2025: Taylor leads men’s 100m qualifiers
Athletics, Latest News, Sports
National Trials 2025: Taylor leads men’s 100m qualifiers
June 26, 2025
KINGSTON, Jamaica — Christopher Taylor led the qualifiers for the first round of the men’s 100m after the opening session of the Jamaica Athletics Adm...
{"jamaica-observer":"Jamaica Observer"}
❮ ❯

Polls

HOUSE RULES

  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.
  7. Lastly, read our Terms and Conditions and Privacy Policy

Recent Posts

Archives

Facebook
Twitter
Instagram
Tweets

Polls

Recent Posts

Archives

Logo Jamaica Observer
Breaking news from the premier Jamaican newspaper, the Jamaica Observer. Follow Jamaican news online for free and stay informed on what's happening in the Caribbean
Featured Tags
  • Editorial
  • Columns
  • Health
  • Auto
  • Business
  • Letters
  • Page2
  • Football
Categories
  • Business
  • Politics
  • Entertainment
  • Page2
  • Business
  • Politics
  • Entertainment
  • Page2
Ads
img
Jamaica Observer, © All Rights Reserved
  • Home
  • Contact Us
  • RSS Feeds
  • Feedback
  • Privacy Policy
  • Editorial Code of Conduct