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Pros And Negatives Of International Trade

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What are the benefits of international trade? What are some negative aspects of international trade?
International trade is an exchange of products and services between countries. There are both benefits and negative impact of international trade and these are; benefits – improve of wages, enhances domestic competitiveness, improve of productivity, reduce dependency, improve employments, improve of infrastructure and promotes peace, stability and harmony. While the negative are; risk of higher unemployment, impact to home grown business, economic dependency, excessive export of natural resources, political influence, loss of culture and environmental degradation.
Benefits of international trade
• Reaching out to the 95% of the world’s population …show more content…

• Prosperity brings peace, stability and harmony. As the world comes together to share, exchange and become more dependent on each other for prosperity, the greater chance of promoting world peace.
Negative of international trade
• Manufacturing jobs are lost due to several factors; Automation machine are more productive and efficient than the traditional labour forces, at least the machine will not go on strike complaining of too much work and too little pay. Labour costs in developing countries are far lower than those of the developed countries which lead to companies outsourcing or move their production or services to developing countries.

• Home grown businesses are affected by large corporations from developed countries as they are not able to compete on International scale due to lack of resources, capacity, skill sets and finances.

• Developing countries become economic dependence on developed countries for importation of their products. For example, China’s GDP growth is largely dependent on International Trade while their domestic consumption is still relatively …show more content…

We have learnt to live and accept the multicultural in our society and English has been widely adopted as the international standard for language communication. Nevertheless, one must have the following skills and abilities to become successful in international business, this includes but not limited to: able to accept, adapt and grow into the different society, be cultural sensitive, respect their religion and believes, strong communication skills, patience, interest in travel, resourceful, independence, curious and be

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