And THAT is the form of most markets in Australia today. A 'level playing field'. Free trade means no barriers to imports or exports between nations. Only a child or a free trade economic mystic would doubt it for a moment. Through debt for equity swaps, many countries no longer own or control the assets that might give them their comparative advantage.
Global capital does.
They struggle to compete in a climate of deteriorating terms of trade, getting further into debt and selling progressively more of their 'comparative advantage' to global capital. After levelling out the cost structures of the players, free trade will only continue to work if all players play by the rules. If the major players, particularly those who protest loudest for 'free trade' won't, then there is no free trade and the system is a lie. America which claims to want free trade, wants it when it benefits America, but not otherwise. Thus when America wants to force bananas or hormone treated beef on Europe, that's 'free trade'.