Should the governments do more to promote free trade? [2021-3 B]
I think that free trade is beneficial to developing countries, and I have two reasons for this.
First, free trade provides developing countries with the opportunities to trade with developed nations. Since free trade removes any trade barriers, such as government regulations or tax, the governments or companies from developing countries can more actively expand their business and create new markets overseas. Thanks to this, the local economy can improve.
Also, free trade can help them accept the values shared in the developed world. By keeping good relationship with developed nations, they learn to know that democracy is one of the effective political platforms, women's role in society should be highly valued, freedom or equality should be respected, or economic growth must be achieved in a sustainable way.
Lastly, people in developing countries can benefit from free trade by obtaining imported products at lower prices. Although some may argue that free trade can hurt local economies and some jobs may be lost temporarily, still the long-term effects on the local economy created by free trade is generally positive. The local business will make more efforts to compete with the global market, so they try hard to provide better services to their cusomters.
For these reasons, developing nations enjoy a lot of benefits thanks to free trade
[ Advantages ]
1 companies can export their products or services more actively
expand their business and market oversea
make profits ---- boost the economy
2. people in developing countries benefit
obtains things at lower prices
3. the values change
[ disadvantages ]
1. Free trade can hurt the local business
lose jobs ---- high unemployment rate
2. loss of tradition and culture
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