Greenspan backs free trade
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Sat Apr 7 09:04:52 MDT 2001
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Greenspan backs free trade Fed chairman derides protectionism, no
mention of interest rates
April 4, 2001: 11:56 a.m. ET
WASHINGTON (AP) - Federal Reserve Chairman Alan Greenspan, declaring
anti-globalization protesters "wrong-headed," said Wednesday the United
States must resist calls for erecting protectionist trade barriers.
Greenspan told Congress the steady removal of trade barriers over the past
half century has contributed to the strong prosperity in recent decades.
That prosperity could be jeopardized by barriers to protect domestic
industries threatened by increased imports, he said.
"The United States has been in the forefront of the postwar opening up of
international markets, much to our and the rest of the world's benefits,"
Greenspan said in prepared remarks. "It would be a great tragedy were that
process stopped or reversed."
Xxxx Xxxxx Xxxxxx
Department of Political Science
SUNY at Albany
Nelson A. Rockefeller College
135 Western Ave.; Milne 102
Albany, NY 12222
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