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9.Conclusions
CHAPTERI
Theforeigntradepolicyplaysakeyroleinthemaintenanceofbotheconomicand
politicalliberalisation.Theprominenceofrentseekinginacountrycanhavefar-
reachingimplicationforitseconomicdevelopment.Especiallyinunderdeveloped
ortransitionalcountries,rentseekingtakesscarceresourceoutofproductive
areasintheeconomy,usingthemtopromoteand/orperpetuatefurtherrents.
Structuralandmicro-politicaleconomyanalysesofforeigntradepolicyin
thecontextofthesustainabledevelopmenthavemissedtheimpactofchanging
ideasaboutprotectionismandrelativelyunchanginginstitutionsdesignedto
handledomesticproducercomplaints.Thepoliticalconsensusonthesupplyof
foreigntradepolicyandprotectionismhaschangedovertime.Intheeconomic
depressiontariffsrevenuesandprotectionismplayedimportantrolesinthepolitics
ofpoliticalparties.Atthesametimeinthemarketeconomyevenduringthe
economicdepressiononecanobservealittlesupportforliberalforeigntrade
policy.Itisnecessarytoemphasizethatintheforeigntradepolicythereare
notpureliberalismandpureprotectionism.Inthehigheconomicgrowththere
aretendenciestoliberalisminforeigntradepolicyandintheeconomiccrisis
therearetendenciestoprotectionism.
Findingwaystoaddresstheenvironmentalissuesthatinescapablyarisein
thecontextofdeepereconomicintegrationandtendencytothesustainable
developmentmustbeseenasanimportanttradepolicypriority,asamatter
ofWTOcommitmenttoundergirdingthetraderegimewithsoundeconomic
theory,andasamatterofpoliticalnecessity.Buildingatradingsystemthatis
moresensitivetopollutioncontrolandnaturalresourcesmanagementissuesis
mandatedbythegrowingdegreetowhichtheserealmsintersectwithtradeand
environmentalpoliciesmutuallyreinforcingarealsoadvisabletotheextentthat
thepresenceoftraderules.