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The evidence on this is clear. No country in the recent decades managed it to increase the standards of living for its people without being open to the rest of the world. So, outward-oriented countries grow much faster than countries that are inward-oriented. There is also one finding that the benefits of trade liberalization can exceed the costs by more than a factor of 10.
The U.S. Treasury Secretary John Snow told the members of the Development Committee, a forum of the World Band and the IMF, that removing trade barriers under the Doha Round negotiations is the greatest step the U.S. government can take to generate increased growth and poverty reduction...
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