Free Trade and Globa1ization vs. Environment and Community Majority of the economist despite their mutual differences on various aspects of the economy, surprisingly, happened to have unanimity of intellectual analysis over the goodies of free trade and over whelming benefits of global economy through integration…
Despite known contribution of free trade towards economic growth, competitiveness, peace and reduced product rates, the writer has surfaced some serious social and environmental concerns attached to the issue. Arguments thus presented are thought provoking and the ills of free-trade and global integration are discussed at length which were not considered initially at appropriate levels. Social implication of globalization through free-trade are numerous and devastating. Relying too much on the global supplies usually discourages the local grower and manufacturers and thereby results in reduced self reliance which by no means is a good social indicator. Competition in some cases may also force a firm to accept the child labor to reduce costs. A country with strict legislation on social security and child labor find it hard to compete with other lenient countries on these issues. Developed countries have many strict labor protection laws which results in increased internalized costs and further demolish the chances of a true competition. Therefore, to maintain the competition it is important to lessen the differences of internalize cost among the nations through strict enforcement of social security and child labor laws. The other solution is the imposition of compensatory tariffs on goods from low standard countries. ...
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The author has supported his claim through some practical and some highly non realistic paradigms which could very well be against the very concept of developing societies. Indeed, there is need for more comprehensive debate for the pros and con of the increasing globalization across the world.
It also asserts that foreign trade is important element of the development process across states because it helps to exchange goods profitably and meet the demands of the people. Most importantly, the author asserts that abstraction of employability and capital from one commodity to another is the major factor for increase in profits as it increases the price of the commodity.
In addition, the essay will explain whether there is any background information to consider if there is any evidence presented. Moreover, the essay will focus on whether the language used is influenced by the where it has been published or its audience. Furthermore, the essay will highlight the strengths and weaknesses of the article and the additional research I would do if I wanted to investigate further.
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