Essay On Disadvantages Of International Trade
• What are the benefits of international trade? What are some negative aspects of international trade? International trade has advantages and disadvantages. On the one hand, it opens the market to all sorts of products, which in turn raises the competition between the local and the international producers; and on the second hand, it gives importers advantages to import different products, and it gives the consumer a wide variety of products, and different options to choose from. It can be a challenge for a better quality, lower prices, and a wider range of products. But it can also shake the stability of poor communities that can’t afford the competition. Let’s take for example the case of potato production in Lebanon. Lebanon is known for its potatoes. It has …show more content…
They can choose products that suit their budget. - Non-tariff barriers can help increase international trade. - It can elevate the living standards of some people leading therefore to less poverty in some countries. Additional disadvantages of international trade are: - During war, a country depending too much on international trade can suffer a lot. Especially if it is importing a large percentage of its food items. - Risk related to international trade and the way it impacts local manufacturers who might be forced out of business because of competition from foreign manufacturers. - In absence of rules, regulations, policies and procedures (like quota, taxes, tariffs) set by governments to control import, local businesses can suffer a lot. - Rules and regulations not very well studied and imposed can have a counter effect, by allowing local producers to be less efficient in the quality and quantity of their produce. - Terms of trade can be perceived as unfair by some countries especially developing countries. • Why do some people and organizations oppose the concept of globalization of
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