Today’s Wall Street Journal has the not-surprising piece “WTO Urges CautionOn Textile Restraints.” (requires subscription). The head of the WTO, says the article, “says it would be a mistake for countries struggling with a surge in Chinese textile exports to throw up protectionist walls right away, just as Europe and the U.S. take steps in that direction.”
Well, of course, the WTO poobahs are worried that the failed ideology of so-called free trade is taking a massive beating from…reality. After the worldwide quotas on textiles expired at the beginning of the year and China began vanquishing all competitors (endangering some 30 million jobs), governments around the world, including the U.S. and European counterparts, all of a sudden were screaming for restraints on China. Yikes—guess so-called free trade isn’t so great when you get slaughtered by its inevitable consequences.

