Free trade benefits all countries that participate in it, and should be encouraged. Protectionist tariffs distort the market and, while a few protected industries may benefit, on the whole, the people of the country suffer. Economists have studied the issue extensively, and concluded that free trade provides an unambiguous economic net gain for the countries involved.
Free trade helps everyone. But there are things that I do not like about the free trade. Some countries impose high tariffs on the products that we export to their countries. But our own countries have a lax import tariff when it comes to importation of products. We need to impose the very same high import tariffs as other countries do. There is no excuse to let these countries import cheap made products that were made using sweat shops where the product was made by using cheap labor by people who make pennies on the dollar.
While free trade is good economically, it also carries a risk of the world government. World government is the greatest risk to our liberties since 1776. If the Constitution is made subject to people who don't believe liberty is a good idea, it's Red Dawn time.
Trading with other countries is something that must be done to ensure we have all the essentials to sustain the lifestyles that we are accustomed to.
A quick view of stock markets across the globe shows how much nations are very connected and influenced by each other. When the U.S., for example, has a down market, the stock markets in Europe and Asia tend to go down as well. The wealth of one nation helps build up others. Seeing how the world came to Haiti's aid (one of the poorest countries in the world) shows how much a country can benefit from the affluence and interaction with other nations.
Free trade is good, and it eliminates restrictions and allows people from some parts of the world to have better access to products and services from other parts of the world. It also allows people to share prosperity and technology. Free trade and globalization also allows people with different abilities in different parts of the world to bring their skills and knowledge together.
Free trade and economic globalization have led to the world becoming a "smaller" place. This encourages the sharing of ideas and technology which benefits everyone. Free trade also encourages efficiency. Manufacturers have learned to use "lean" manufacturing processes as a result of free trade and economic globalization which again, benefits everyone.
Leading economist Jeffrey D. Sachs notes in "The End of Poverty: Economic Possibilities for Our Time" that citizens in countries throughout Africa "...are not victims of globalization; they have merely been bypassed by globalization." Globalization means that companies that outsource aren't stealing from developed country's job pools, but they are providing new jobs that wouldn't exist otherwise in developing countries. The reduction in cost overall means that workers in developed nations can better afford these products and the labor pool will naturally gravitate towards better paying jobs, rather than suffer reductions from company closures.
Yes, I agree that the free trade and economic globalization is good for the world. Free trade and economic globalization provides free and open transaction of goods and services between the countries. Free trade and economic globalization provides benefits to the people of the world and also there is free movement of necessary goods and services between the countries.
Free trade and economic globalization produce far-reaching opportunities. Consumers are able to access more and better goods and companies are able to sell products to more people. Free trade and economic globalization must be sought within legal means and the promotion of third world economies and peoples in a global market is essential to diminishing poverty.
The country will lose its economic and standard value. The local production sectors will be highly effected negatively, which means that all established small industry future will be at risk. The speed rate in development will be deteriorate. Money laundry will be on a high level include bank and market fraud. Though free trade and economic globalization is a good fastest way to market what you have and have control over what you produce but it is also a good fastest way to lose an empire of economy to the fraudster and opportunist.
Free trade is a really bad idea.. Where is our jobs? The Chinese or the Indians have them right now. What are we doing to stop? Saying yes on free trade. We gave up out jobs to the Mexicans first, they love it. Then we found cheaper labor and moved to china.. Now the Mexicans have no jobs. Therefore we have immigration issues because they got a taste of America. When we moved our jobs to mexico, they were paid 1/10 of a normal American would be paid.. In china they are paid 1/10 of what the Mexicans would get paid. THE CHINESE ARE WORKING FOR 1/100 of what we get paid working for Walmart. And where do we shop.. WALMART.. We are buying into their scheme.. BUY AMERICAN MADE PRODUCT.. Support local and small business instead of corporate devils
Does everyone prosper with free trade? In my opinion, I believe that the answer would be no, not everyone benefits or prospers from free trade. There is an unequal and imbalanced divide between the rich and the poor nations. “Rather than being an unstoppable force for development, globalization now seems more like an economic temptress, promising riches to everyone but only delivering to the few.” Obviously, those who do prosper with free trade are the rich industrialized countries as they have committed themselves to ensure that globalization becomes positive force. I believe that those who lose out in the process of globalization (free trade) are primarily those who live in developing countries. This is mainly in relation to the effect on workers, health as well as the environmental conditions.
Watch the interview between Charlie Rose and Sir James Goldsmith back in 1994. It is on Utube.
In this interview Sir James lays out his prediction on what would happen if our stupid government went down this path. Well, here we are 20 years later and he was right. Watch it for yourself.
Free trade and globalization means nations will lose their national sovereignty. When that happens they won't be able to get it back. People won't realize the implications until it's too late. Moises Naim is a pro free trade commentator whose writings give a good insight into the "get used to it" mindset that is coming. How to counter it? Stop buying products produced outside of your nation's 'realm', and start supporting product from your country. Check your investment portfolio and remove 'global investments' and implement a policy of investing only in your own country's 'realm'.
Some countries don't play by the rules when it comes to free trade like China and Indonesia and this damages the economies of the countries they are trading with. Also, free trade is silly as if a country runs out of food or oil or another substance they have wasted it all by giving it to another nation.
The distinction between fair and free trade is that one is fair while the other is not. Free trade simply allows for the more economically sound country to exploit the developing country. Economic globalization likewise allows for various corporations to take advantage of the free market ideology and move into poorer nations in order to exploit their resources and work force at a much lower rate. This only benefits the corporation - not the people of the developing world. Just imagine living on that other side. You'd probably prefer fair to free too.
Globalization is meant to bring such attributes of equality, elimination of barriers/taxes and legally bind two or more countries in a trade agreement (FTA). However, does that include the support of poverty alleviation? How can a country, one that is not stabilized both politically and economically, expect to meet the world demand with a product/service in good working conditions and the support of decent wages and the item itself at a good standard? It is hard to comprehend. Countries are struggling to develop, especially since the GFC in 2008. Countries that can afford to produce products and meet the standards required (with the technological advancements in place) are only benefited as they can grow and extend on their trade market accessibility and are able to afford relations with another wealthy countries. Globalization has said to benefit the poor, than where is the evidence? Perhaps in the future can we see change, but that will require a long time.
Due to the unequal exchange between developing and developed countries free trade is only beneficial to developed countries. Since the production of primary products, which are mostly produced in developing countries, are labour intensive they allow the extraction of surplus by capitalists in the developed world. Hence, the developing laborers are contributing to the salary of laborers in the developed world. This is largely due to the price difference of primary products and secondary products.
People become increasingly similar through free trade. Things are starting to become the same all over the world and this is very bad. Where has all of the cultural diversity between peoples gone? It is almost like we are alike which is also called homogenization. Do we all want to become homogenized? Do we want to all be the same? Cultural diversity is vital in this world. Therefore free trade needs to become limited so that we only trade reasonable things and we are not selling out our own cultures and buying the same culture that is seen in many countries worldwide.