Characteristics of and the trade conflicts in the international rice market - a case against the free trade postulate
Tsujii, H.
Natural Resource Economic Review, Kyoto University 1: 119-135
1995
Document Number: 283084
The proponents of agricultural trade liberalization argue that free trade maximizes the welfare of all nations by bringing about the most efficient system of production and exchange. However, many of the assumptions of the free trade model do not apply in the real world. The paper describes the characteristics of the world rice market, indicating the limitations to the free trade hypothesis, and discusses self-sufficiency as an important market principle and policy goal in Asia.