Free Trade and Poor Countries - Essay Example

free trade has remained one of the most debated topics since the 18th century.... On one end of the spectrum are supporters of free trade who justify it on economic, moral and social grounds.... On the other end, however, are critics who claim that free trade is not justified on economic and socio-political grounds.... The paper explains both sides of the argument, with the balance tilting in favor of free trade as has been witnessed by economists over the years....

Countries with GDP per capita of $765 or lesser than that are declared to be the poor countries (The 10 poorest countries of the world, n.... The leaders of the developed countries are also responsible as their external influences often make the government of poor countries helpless and results in unequal rules of trade.... To attract the investment form the developed nations, poor countries try to reduce the wage structure and provide cheaper resources but ultimately it results in the degradation of the economy and increases the poverty level among the people....

Introduction One of the major principles of globalisation is free trade, which emphasise on elimination of barriers that limit trade between different countries in the global community (World Bank 2002).... Proponents of free trade argue that it is one of the most “effective trade practices of ensuring sustainable economic development in developing economies” (Abiad, and Ashoka 2002, p49).... hellip; However, since the inception of free trade, the world has experienced widespread increase in economic inequality....

S accepted specialisation and trade and as it rewards the standard of living is higher than any other country in the world.... The free trade agreements are generally made between two countries.... Through the free trade agreement, US exporters are open to the world market.... The free trade policies enhanced competition, quality products in low cost, better job opportunities and investments.... The American economy as well as world economy benefited with free trade specialisation....

This report "free trade and Protectionism" focuses on the trade system followed between countries with certain offers in tax or other means due to the economic condition.... free trade is the trade between the nations without the protective measures and the custom tariffs.... nbsp;… In the market, the free trade good cost goes higher at the same time the price of the domestic producer becomes cheaper.... Hence free trade policy is a cost-effective policy adopted by the governments....

The following paper 'The Effectiveness of the free trade Policies' presents the economy which is autonomous and it functions in accordance with the requirements of the modern world.... free trade has become an important practice between two nations these days.... hellip; This free trade can help the countries to develop as a nation as the goods can be exchanged freely.... Trade is an important part of the world today and free trade has become a necessity for the developing nations....

nbsp; Free trade offers important benefits to improve the overall economic conditions of rich and poor countries as well as serving as an important deterrent for war.... The complex nature of international free trade and the economic interests are typified by the intricacy.... This paper 'free trade Stops War" focuses on the fact that free trade promises widespread interactions across nations, leading to reduced conflicts among the participating countries....

Trade between rich and poor countries tends to favour the former as they export more than they import from the poor countries causing an unfair balance in trade.... The paper "Free vs Fair Trade for Reduction of Poverty" discusses if indeed free and/or fair trade is a solution to reduction of poverty in poor countries.... hellip; Most of these poor countries are usually heavily burdened by debts.... According to the World Bank, 40 countries are identified to be Heavily Indebted poor countries (HIPC)....