International trade has been a controversial issue for decades. While some people believe that it is essential to promote movements of good across borers for economic growth for the countries, some say that it causes a damage on local economy.
In this essay I will try to discuss both view points and provide my opinion.
Trade of goods across borders give economic benefit for many countries. Exporting goods to other countries is a powerful way to earn foreign currency and expanding the market, which is imperative for economic growth in many countries. International trades help the countries to supply items in demand each other, meaning that a country abundant in a particular item can export the surplus to other countries where the item is in scarce. In this way, international trade give a win-win situation where exporting countries can make the revenues for national and local economy and importing countries can get the supply people demands in the country. For example, Japan exports lots of fresh seafood items to neighboring Asian countries where people spend money in enjoying the fresh items only available in Japan. This gives lots of benefit and additional revenues for local fishery market in Japan.
On the other hand, it is also true that international free trade also damages local industries especially when the cost competitive products are unlimitedly imported from other countries. This is one of the common concerns over international trade. For example, agriculture industry has always controversial issue when it comes to global trading. Countries like the US or China where it has agricultural land and investments at industrial scale can export cost competitive agricultural products to other countries, which causes a severe damage in local economies in the importer countries. For instance, the farmers used to grow soy beans or wheat for decades across Japan. However, once Japan started import of the products from the US with less custom as per the trade agreement between two nations, it became a challenge for the domestic farmers to compete with the imported products with cheaper price. Eventually there was no option left for the farmers to give up cultivation of soy beans and wheats, and they have lost a massive source of income.
All in all, I agree that international trades are important and play a key role in boosting the economy across any countries, but there should be a agreement and regulation to control to take a balance between getting benefit for economic development and protecting the local economy.
International
trade
has been a controversial issue for decades. While
some
people
believe that it is essential to promote movements of
good
across borers for
economic
growth for the
countries
,
some
say that it causes
a damage
on
local
economy.
In this essay I will try to discuss both view points and provide my opinion.
Trade of
goods
across borders
give
economic
benefit for
many
countries
. Exporting
goods
to
other
countries
is a powerful way to earn foreign currency and expanding the market, which is imperative for
economic
growth in
many
countries
.
International
trades
help
the
countries
to supply
items
in demand each
other
, meaning that a
country
abundant in a particular
item
can export the surplus to
other
countries
where the
item
is in scarce. In this way,
international
trade
give
a win-win situation where exporting
countries
can
make
the revenues for national and
local
economy
and importing
countries
can
get
the supply
people
demands
in the
country
.
For example
,
Japan
exports lots of fresh seafood
items
to neighboring Asian
countries
where
people
spend money in enjoying the fresh
items
only
available in
Japan
. This
gives
lots of benefit and additional revenues for
local
fishery market in Japan.
On the
other
hand, it is
also
true that
international
free
trade
also
damages
local
industries
especially
when the cost competitive
products
are
unlimitedly
imported from
other
countries
. This is one of the common concerns over
international
trade
.
For example
, agriculture industry has always controversial issue when it
comes
to global trading.
Countries
like the US or China where it has agricultural land and investments at industrial scale can export cost competitive agricultural
products
to
other
countries
, which causes
a severe damage
in
local
economies
in the importer
countries
.
For instance
, the farmers
used
to grow soy beans or wheat for decades across
Japan
.
However
, once
Japan
started
import of the
products
from the US with less custom as per the
trade
agreement between two nations, it became a challenge for the domestic farmers to compete with the imported
products
with cheaper price.
Eventually
there was no option
left
for the farmers to
give
up cultivation of soy beans and
wheats
, and they have lost a massive source of income.
All in all, I
agree
that
international
trades
are
important
and play a key role in boosting the
economy
across any
countries
,
but
there should be
a
agreement and regulation to control to take a balance between getting benefit for
economic
development and protecting the
local
economy
.