In a recent Financial Times article, BWC Advisory Council Member Minouche Shafik highlights the tension between public opinion and economic theory regarding trade policy. She argues that, while politicians opt for tariffs and restrictions to appeal to voters, a rules-based trading system is more likely to promote prosperity and reduce poverty. 

Shafik writes “Trade policy is first and foremost about fostering competition to create growth and jobs and to serve consumers efficiently.”

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All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.