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Quotation of the Day…

… is from page 135 of the 2015 2nd edition of Pietra Rivoli’s fascinating 2005 book, The Travels of a T-Shirt in the Global Economy (footnotes deleted; link added):

Though the research continues to evolve, at least to date the evidence suggests that countries more open to trade have better environmental profiles, and that the environmental doomsday scenario linking globalization with environmental degradation has little empirical support. Researchers have failed to find evidence of the “race to the bottom,” or pollution haven hypothesis. Indeed, in reviewing this research, Jeffrey Frankel concluded that the net effects of trade on the environment were instead positive.