A Wider Partnership
The theory of international trade has primarily to do with the advantages offered by liberal trade and by wider trade networks. Yet the public debate stresses the discomforts caused by new trading nations. What so often seems to be forgotten in this debate is that growth in one region can stimulate growth elsewhere. There are mutual advantages for all concerned. The scope for fruitful exchange increases; there are wider markets and better sources of goods and services; capital and investment opportunities (both domestic and foreign) are more plentiful; there are new technologies to use, new methods to emulate, more competition, and the stimulus of faster feedback.
These are the tenets of the often-neglected international trade theory and the generalizations that it invites. International contacts serve as a vehicle of productivity and inspiration. European growth reflects such impulses. E. A. Hall sums up European borrowing from the East as follows: "Perhaps European civilization could not have progressed so rapidly had it not possessed a remarkable faculty for assimilation— from Islam, from China, and from India. No other civilization seems to have been so widespread in its roots, so eclectic in its borrowings, so ready to embrace the exotic. Most have tended (like the Chinese) to be strongly xenophobic, and to have resisted confession of inferiority in any respect, technological or otherwise. Europe would yield nothing of the