Pros And Cons Of Free Trade

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According to the definition for global free trade is. “The unrestricted purchase and sale of goods and services between countries without the imposition of constraints such as tariffs, duties and quotas. Free trade is a win-win proposition because it enables nations to focus on their core competitive advantage(s), thereby maximizing economic output and fostering income growth for their citizens.” This just seems to be a very generalized however if explored this a very big topic and at some locations it can be very sensitive. As humans of today it is very crucial to make the right decisions that will help our economy.Global free trade dates back to the seventeenth century which if seen is a system that helped many prosper or affected them in different ways. This system basically allows one nation or many nations to strengthen their…show more content…
As discussed earlier free trade is a system in which many jobs are brought in. In this process many diverse people are brought in to work. Now by doing this yes you have created a stronger market as your labour is cheap but now who do you identify these labor as. Due to free trade people lose their cultural identity. Leading to chaos as to who came from where and how do we label each other. Another factor that makes free trade look bad is when huge firms and businesses mass produce and forget big factors like the environment. When such happens many firms end being fined or are either sued thus leading to no more jobs for those laborers who were promised a brighter future. Free trade also limits the revenue for various governments. Import and export tariffs are being lowered to help the flow of goods and service. However tax money is not being able to be created thus leading to low revenues leading to a bad economy. As seen yes free trade does have its positives and negatives but for every positive there is a consequence in the long
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