Free Trade Improves The Quality Of Life For A Nation And Its Citizens

1448 WordsMay 5, 20166 Pages
Free trade improves the quality of life for a nation and its citizens. It can import goods that they may not able to produced. Also, importing goods may be cheaper for a developing country than attempting to produce it. Child labor in developing countries has also be the main problem in the lacking of technology. Children are used as a cheap substitute for manufacturing equipment. International trade would allow countries across the border to invest equipment and pay higher wages to adult workers through foreign investment. With higher family incomes, children are able to attend school rather than work. Trade also creates employment opportunities by boosting economic sectors that create stable jobs and usually higher incomes, thus improving livelihoods. For example, manufacturing workers in open economies received pay rates 3 to 9 times greater than those in closed economies, depending on the region. In Chile, a worker in a sector open to trade and investment gains an average €1,100 more per year than a worker in a relatively closed sector. Encourages innovation Trade encourages innovation by facilitating exchange of know-how technology and investment in research and development, including through foreign direct investment. Investment and trade have facilitated the deployment of information and communication technology, with mobile cellular coverage reaching 86% of the world’s population in 2008, including 69% of the African population. Enhances competitiveness Trade

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