Free Trade Globalization Analysis

Globalization has been going on for a long time. When people first started going on voyages in ships bringing goods and trading in ports, that was globalization. Economic globalization are said to bring the world together with shared knowledge and information. Foreign exchange will happen and the world will be more open towards each other. It is the belief that when a country is globalized, the citizens will benefit. Citizens will have a higher living standard, better income, better jobs, better services, better goods and products. Economic globalization urges the progress of services and goods between countries. Furthermore, in recent years, developing countries are advancing on globalization. Although there are exploitations in globalization,

The idea of free trade is developed through globalization, where there are no rules and barriers when trading between countries. Since there are no rules and barriers, people are able to buy products at a cheaper price. Fair import and export of products will lead to better economy and flexible exchange rates. As a result, the total value of exports is A$318.5 billion and the total value of imports is A$328.7. According to Drozdz (2011), exporting more products means increased wealth. By trading, there will be an increase in sales and profit (Kuck, n.d.) that will enable companies to grow. Free trade also encourages people to be creative and innovative to make new products, that can sell well and be exported out of the country. Consumers will benefit because companies will keep on making new products according to the demands of the consumers in order to keep up with the competing market. In this way, high quality products can be sold at a reasonable price, which will increase the market share. Many products have different prices in different countries. For instance, a branded bag costs cheaper in America because it s a local brand. On the other hand, the same branded bag in Malaysia costs more because it is imported product. However, with free trade, the prices can be equalized. Krufman (1987) said that benefits of having unrestricted trading, transport the

Depending on how it is handled, it can affect the nation in many ways. Globalization cannot be forced. It must be from conscience. That is why some countries are still not globalized because they do not want to take the risk and challenges they have to face. The main goal of globalization is so that everyone benefits. In conclusion, wider world exposure and closer bonds between countries will be achieved. Governments can work together to achieve common goals and solving global problems. True, globalization gives many people opportunities and chances. Even though there is also the existence of exploitation in globalization, globalization is a very efficient way for the economy