Thousands march in Europe against US-EU free trade pact

AFP News – 13 hours ago

 

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ricky l • a second agoRemove

The trade pact will definitely result in a bigger market and will be good for business.

But will also introduce more intense competition - that will result in business restructuring, market rationalization as the protection cover is lifted - some business may fail and will lead to job loss or business under more intense competition will also have to release staff.

But it also mean with bigger market, business will grow and will require more staff.

In short term, some business may go bust and workers will lose jobs. In longer term, with bigger market, there will be more opportunity that result in more business growth.

Thus to ease the short term pain of some business going bust or some workers being retrenched and lose their jobs - Government will have to actively step in to match retrenched staff and workers to job - in job growth area.

Only then, there will be less resistance to the trade pact.

To summarise, Government will have to actively market, promote and reassure their citizens and residents that "no one will be left behind" in this trade pact. All workers will be taken care off.

This is especially true that not everything can be left to "invisible hands" or "laisse faire" - Government intervention at the right place, at the right time will be required.

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Richard  •  1 hour 33 minutes ago Report Abuse

Easier said then done. The fact is free trades will profit businesses that have more freedom to move their factories else where, and not workers who have no choice but to stay in the county with less job opportunities and have to compete with foreign low cost labors.

All the government talk about sharing the wealth, helping workers to retool, are just talk. In the end, it's the business owners, stock holders, and people with connection who will profit from free trade.

Free trade is simply a mechanism to redistribute wealth, and it's clear where the wealth will be distributed to, that's the people that are already wealthy and with flexibility to profit around the globe, and not your average worker who have no mobility, no flexibility and no quick way to update skills and experience.