¶ … free trade claim benefits to both individuals and society, while protectionists claim that people need protection from free trade. There is no doubt that business is becoming increasingly global and it seems free trade will mark the future of international business. By considering both sides of the argument, a balanced view of the issue can be obtained. It may even be possible to combine both sides of the argument to give a true account of the impact of free trade.
There is no doubt that an international environment based on truly global free trade is becoming a reality. President George W. Bush recently travelled to China and met with Chinese officials to discuss free trade. In a press conference after the meeting he is quoted as saying, "China, as a full member of the WTO, will now be a full partner in the global trading system and will have the right and responsibility to fashion and enforce the rules of open trade." (Savadove) This event represents progress for the free trade movement, with the formal joining of China being a process 15 years in the making.
President Bush makes his status as a free trade advocate clear saying, "it is in our nations interest that we trade with China." (Savadove)
While Bush's status is clear, it would appear that the American people's is divided. A recent survey showed that 45 per cent support free trade, while 46 per cent support protectionism. (Vieira)
The same survey also showed that an increasing number of people are enjoying more freedom in their shopping. It is reported that 49 per cent of respondents believe having the products of multinational companies available to purchase is a "good thing," while 17 per cent believe it is a "bad thing" and 33 per cent are indifferent. (Vieira)
While consumers may not be in agreement on their stance on the issue, many of them are enjoying the benefits of greater product choice it results in.
It is also argued that the benefits to society are great. Micklethwait and Wooldridge argue for free trade saying that, "globalization is not something that that has a positive effect only...
The problem with this argument is that the world is not purely economical in its activities or its planning. The notion that state -- i.e. political -- entities have ceased to matter in global trade issues, though increasingly popular among certain scholars and pundits, is a perspective that is at best "profoundly misleading" (Krasner 1976, pp. 317). The fact is, states act according to perceived threats both to their security
Protectionist Strategies Strategic Reasons why countries Protectionist Theories and Measures Tariffs Import Quotas Administrative barriers Anti-dumping laws Direct subsidies Export Exchange Rate Manipulation International patent systems Protectionism is a concept through which governments and states exercise control over the trading patterns of the country and use measures that in turn are expected to help the domestic industry develop. The main argument that we shall be following for this essay is that Free trade can only be "free" when nations and states are
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