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HOW DOES INTERNATIONAL INSTITUTIONAL ARRANGEMENTS SUCH AS WORLD TRADE ORGANIZATION (WTO), EUROPEAN UNION (EU) AND NORTH AMERICA - Research Paper Example

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HOW DOES INTERNATIONAL INSTITUTIONAL ARRANGEMENTS SUCH AS WORLD TRADE ORGANIZATION (WTO), EUROPEAN UNION (EU) AND NORTH AMERICA

Free trade has highly devastated American industries and American jobs at large. The Senator Barrack Obama in 2007 indicated his believe in free trade (Raskin, et al. 42). He however acknowledged that the burdens that came with this trade highly outweighed the benefits especially for millions of Americans. The trade has contributed to adverse working conditions. Underdeveloped countries will want to cut down on costs in a bid to benefit from price advantages but on the other hand, many employees in the respective countries end up facing low pay, bad working conditions and forced labor including abusive child labor. As underdeveloped countries attempt to cut costs to gain a price advantage, many workers in these countries face low pay, substandard working conditions and even forced labor and abusive child labor. Yet the WTO states that it does not consider a manufacturer’s treatment of workers reason for countries to bar importation of that manufacturer's products. The WTO however notes that developing countries insist any attempt to include working conditions in trade agreements is meant to end their cost advantage in the world market. ...Show more

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Name: Institution: Course/subject code: Date: INTERNATIONAL INSTITUTIONS Labor refers to the combination of both man’s physical and mental energies to aid in goods and services’ creation. A primary production factor, labor and especially a country’s labor force size helps determine population and the extent to which this population is working or are prepared to render their services for a salary or a wage (Bardhan, et al…
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HOW DOES INTERNATIONAL INSTITUTIONAL ARRANGEMENTS SUCH AS WORLD TRADE ORGANIZATION (WTO), EUROPEAN UNION (EU) AND NORTH AMERICA essay example
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