In a globalized world, learning itself must also cross national boundaries. In this session of the Global Issues Seminar Series, sponsored by the World Bank’s External Affairs department, students from around the world gathered by videoconference link to learn about the issues of international trade and development. The presentation was moderated by Maya Brahmam, Head of the World Bank Speakers Bureau.
Carlos Alberto Primo Braga, a Senior Adviser at the Bank, began by presenting an overview of the world economy and its trends in developing countries. He noted that country growth and unilateral trade liberalization tends improve the lives of the poorest segments of the population. Braga presented the arguments for this liberalization, but also addressed the concerns that lead to protectionist policies. Overall, he said, trade reform would reduce poverty if implemented, but is not a “silver bullet” for the problem.
Braga then turned to international environments of trade reform. He pointed out that agricultural sectors often garner disproportionate amounts of protection, and explained how this preference explains the behavior of developing countries in trade rounds, despite the possible benefits of Doha and other free trade discussions.
In the question and answer session, remote sites asked Braga about nontrade factors in development, convincing countries to reduce agricultural protection, and the extent of benefits for World Bank policies in Ghana and other nations. Students also questioned the speaker on the risks from China and other exporters of cheap goods, the influence of corruption, and whether trade liberalization is a means or an end for development.
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