Rejecting trade liberalization

The vast majority of countries have not benefited from trade liberalization. Some of the losers are the very economies that have liberalized rapidly. In many cases, opening of markets has led to a rapid increase in imports, but without a corresponding rise in exports. The entry of cheap imports has undermined domestic industries and led to unemployment. Before a country opens up its markets, conditions must be right - an economy should already have developed enterprises of its own and gained access for its products in advanced markets.