Pros and Cons of Free Trade

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Geography: Pros and Cons of Free Trade

Few can contend that the world is more interconnected and interrelated more than ever. This web of interdependency is primarily made possible by trade, and in the twenty-first century, a large and significant portion of trade is conducted on a global scale. Furthermore, while the majority of people agree that free trade can benefit both parties in terms of economic development and an increase in overall production, many critics have voiced their fears of the negative consequences that may result from a global trade environment with few barriers or limits. Proponents of free trade argue that benefits far outweigh costs and that the primary gain is efficiency of production achieved through comparative
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This desire to obtain greater profits by decreasing cost and increasing efficiency of production results in innovations that may include time-saving technology or better methods for manufacturing. Therefore, free trade fosters global competition for lower prices, cost-effective production techniques, and a greater emphasis on quality and performance.

All of the above arguments support the assertion that free trade has many benefits to countries involved as well as to their citizens. It promotes economic growth to the nation as a whole while improving the quality of life for its workers. Furthermore, because the nation is becoming more prosperous, some serious social problems such as unemployment and illegal immigration may be alleviated as well. In Omhmae 's The Rise of the Region State, he claims that region states welcome foreign trade and investment because it increases productivity and improve quality of life. "They want their people to have access to the best and cheapest products. And they want whatever surplus accrues from these activities to ratchet up the local quality of life still further..." Therefore, when weighing the positives and negatives of free trade, a country must take into account all the benefits in the daily lives of its people that will be a direct result of unrestricted trade.

In almost every situation,
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