Pardee Fellow Writes Op-Ed for Financial Times

Prof. Kevin P. Gallagher, Faculty Fellow at the Boston University Frederick S. Pardee Center for the Study of the Longer-Range Future and Associate Professor of International Relations, wrote an Op-Ed for The Financial Times on the effects of US trade agreements on emerging markets.

Titled “US trade agreements threaten emerging markets’ financial stability”, Prof. Gallagher drew examples from US free trade agreements with Chile and Singapore and warns that “A US treaty with [China, India, Columbia and South Korea] would make it very costly to cautiously use capital controls to stem asset bubbles and maintain financial stability. Those nations negotiating treaties with the US should think twice about signing on to provisions that will mandate the unbridled opening of the capital account without safeguards.”

Prof. Gallagher concludes that “Developing countries should be shrewd again by not permitting the US to export its faulted financial model to the developing world through trade and investment treaties.”

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