September 20, 2007 11:37AM 

# The True Leaders of Trade Liberalization 

By [Sallie James](https://www.cato.org/people/sallie-james) 

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A great [article](http://www.ft.com/cms/s/b8cb8fd6-65fe-11dc-9fbb-0000779fd2ac,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2Fb8cb8fd6-65fe-11dc-9fbb-0000779fd2ac.html&_i_referer=http%3A%2F%2Fwww.ft.com%2Fcomment) today \[subscription required\] in the *Financial Times* reminds us that business deals, and not formally negotiated trade agreements, are driving globalization.

That’s not to say that a good outcome on the Doha round wouldn’t be welcomed (and [things are looking up](http://www.iht.com/articles/ap/2007/09/19/business/EU-FIN-ECO-WTO-US-Trade-Talks.php) on that score). But preferential trade agreements are often not the historic breakthroughs that politicians make them out to be. They make great photo-ops, though.

##### Related Tags 

[Trade Policy](https://www.cato.org/trade-policy), [Herbert A. Stiefel Center for Trade Policy Studies](https://www.cato.org/herbert-stiefel-center-trade-policy-studies) 

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