Thursday, August 15, 2019
International Trade debate Part 2 Essay
In reading my classmateââ¬â¢s paper, it is interesting to note that while the author is against unrestricted trade, the author nevertheless cites many of its benefits such as reducing dependency and cutting the cost of living. What is even more interesting is that the author tries to build a case around arguments that consider these benefits as detriments without ample support. When countries have to compete globally, they would have to streamline their products in order to find their most competitive wares or they wonââ¬â¢t be able to compete at all. This opinion which is also mirrored by my paper is true, but the fear that some countries would engage in unfair practices is unfounded. For one thing, what does the author mean by ââ¬Å"unfairâ⬠competition? Offering a price that is lower than your competitorââ¬â¢s is not unfair, itââ¬â¢s just competition. As the paper also mentions, this leads to specialization of goods based on each participating nationââ¬â¢s capabilities. While some of our products might not be marketable because of cheaper, higher-quality brands from some other countries, other goods that we export would be more marketable because of free trade and we could focus on those goods for export and not have to spread our resources too thin. This way, we can get the best profit for our best product. But what about countries that cannot be competitive? What about countries who simply do not have globally competitive products? Globalization also gives them the benefit of having cheaper products for their labor force to afford. Kellison (2006) states that economies that cannot offer globally competitive products usually end up offering another valuable resource, labor. Free trade cuts the cost of living for its laborers which make them afford better lifestyles. What is so wrong with that? In the final analysis, it is clear that globalization has a rightful place in todayââ¬â¢s economy. References Kellison, P. (2006). Labor Forces in the 21st Century. N. Y. : Bakeman Books. My classmateââ¬â¢s paper: International Trade Debate ââ¬Å"The Case for Protectionâ⬠My paper: International Trade.
Subscribe to:
Post Comments (Atom)
Crimes of the Heart: A Case Study on Cardiac Anatomy Essay
Tiffany is stressed over her infant child. Since the time she brought Caleb home from the medical clinic it has been so difficult to get him...
-
Battle of Friedland in the Napoleonic Wars The Battle of Friedland was fought June 14, 1807, during the War of the Fourth Coalition...
-
Advantages of Inclusion for Disabled Children There are many advantages for children with disabilities, to be placed in a regular classroom ...
-
1. Family problem ââ¬â family issues affect students performance in school as students are not cognitively developed but psychological...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.