Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Advantages of Free Trade in the International Political Economy
Free trade advantages and disadvantages
Advantages of Free Trade in the International Political Economy
Don’t take our word for it - see why 10 million students trust us with their essay needs.
International Trade Labor and Environmental Regulations
Seattle, Thusday, December 2, 1999- All was confusion, Police in riot gear shouted to one another as tear gas was shot into the mass of violent protesters. What triggered this violent protest was the World Trade Organiztion or WTO. The WTO aims to establish global free trade. Free trade means repealing all trade barriers and restrictions all over the world. This would allow large corporations to exploit the abcence of labor and/or enviornmental laws in deveoping countries. Globalisation, however much good it will do, cannot proceed without international agreements on labor and enviornmental standards.
The World Trade organization came into being in 1995. Neither George Bush or Ronald Reagan would allow its creation, but it was finally formed under the Clinton administration. The WTO claims globalisation would encourage trade between countries, increasing social and cultural diversity between nations and improve national realtions all over the world. Also, Free trade would bring jobs to developing nations, allowing them to establish a base workforce, and develop into economicaly and politicaly stable nations.(www.WTO.org all pages)
On the other side of the coin, allowing Free Trade would mean allowing buisinesses to relocate to developing nations where laxer labor and/or enviornmental laws allow them to produce their product more cheaply and more efficiently. Child labor is one of many great hinderence in the path of golbalization, in many countries, young children work in factories for low wages, making products for export to America. Child labor is cheap, efficient, and abundant in developing countries where birth control is a comodity. This makes it a draw for fore...
... middle of paper ...
...2. Burgess, John, “Gasoline Dispute Highlights Environmental Concerns” The Washington Post, Washington Nov 29, 1999 pg. A18
3. Dijck P. van, and Faber, G. (eds.), Challenges to the new World Trade Organization, 299-306 1996 Kluwer Law International
4. Gutermann, Paul, “Environmental issues affect global trade talks” National Law Journal, New York Nov 22, 1999 pg. B11
5. Mayne, Ruth “Labbyists labor rights, British commitment could save lives of trade unionists argues Ruth Mayne” The Guardian Manchester, Jun 20, 1997 pg. 1, 27:1
6. Page, Susan; “Clintons words on labor rights draw controversy” USA Today, Arlington; Dec. 3 1999 pg. 16A
7. “Seattle protests evoke social unrest of the 1960s/Marches may have lifted WTO from Obscurity,” Houston Chronical, Houston, Tex.; Dec. 3, 1999 pg.1
Internet source
8. http://www.WTO.or/wto/inbrief as of Dec. 12 1999
Our global world is being more connected as we become integrated politically, socially and even economically. Due to the Bretton woods agreement, different countries have been economically dependent on each other in fear for war to erupt. From then on different organizations and policies tied more countries into being economic globalized. This economic globalization had then given us many opportunities in trades and more access to natural resources in other countries. Unfortunately, there are some negative effects that are brought to less developed country. Overall, many people believe that economic globalization does a great work on accumulating our economy and our quality of life.
Clifford, Frank and Mary Beth Sheridan, Borderline Efforts on Pollution, THE LOS ANGELES TIMES, June 30, 1997, 1.
David Brody argues that the rise of contractual or collective bargaining relationships during the post WWII era formalized the relationship between employers and unions, but simultaneously began to put a break on shop floor activism. Explain Brody’s argument and, where relevant, incorporate Weber’s theory of bureaucracy.
Yellin, Samuel. American Labor Struggles New York: Harcourt, Brace and Co. 1936; Reprinted New York: Arno Press, 1970.
Ethics and the Unions - Part 1. Industrial Workers of the World. (n.d.). Retrieved from http://www.iww.org/en/history/library/Dolgoff/newbeginning/1
The United States has for over two centuries been involved in the growing world economy. While the U.S. post revolutionary war sought to protect itself from outside influences has since the great depression and world war two looked to break trade restrictions. The United States role in the global economy has grown throughout the 20th century and as a result of several historical events has adopted positions of both benefactor and dependent. The United States trade policy has over time shifted from isolationist protectionism to a commitment to establishing world-wide free trade. Free trade enterprise has developed and grown through organizations such as the WTO and NAFTA. The U.S. in order to obtain its free trade desires has implemented a number of policies that can be examined for both their benefits and flaws. Several trade policies exist as options to the United States, among these fair trade and free trade policies dominate the world economic market. In order to achieve economic growth the United States has a duty to maintain a global trade policy that benefits both domestic workers and industry. While free trade gives opportunities to large industries and wealthy corporate investors the American worker suffers job instability and lower wages. However fair trade policies that protect America’s workers do not help foster wide economic growth. The United States must then engage in economic trade policies that both protect the United States founding principles and secure for tomorrow greater economic stability.
After the failed International Trade Organization, Rodrik discusses the Bretton Woods Agreement, the transition from the General Agreement on Tariffs and T...
Elizabeth Flynn, “The Industrial Workers of the World and the Free Speech Fights,” in Voices of Freedom. Ed. By Eric Foner
Stanley, E.D. 1969. Oil pollution: Problems and policies. Washington, D.C.: The Bureau of National Affairs, Inc.
Proponents have a strong belief in free markets and limited governments intervention. According to Preble (2010), globalization has led to the creation of jobs, higher living standards and a higher variety of goods available to consumers. International trade is one of the driving forces behind globalization. Countries specialize in specific goods wherein it has a comparative advantage. This results in a higher efficiency and productivity and ultimately leading to an improvement of the living standards. As a consequence, export increases. Hereto, more jobs are created, a higher variety of goods are available and international competition has increased. This results in lower prices, keeping the inflation in check (Preble, 2010). Furthermore, Preble (2010) states that the increase of trade in goods and services, foreign direct investment and cross-border investment have been important for the success of globalization. Other important benefits, mentioned by the proponents of globalization, are the promotion of information exchange and high understanding of a variety of cultures. Globalization has led to a world where “democracy has triumph over autocracy” (BBC News, 2000, as stated in Preble, 2010, p. 334).
Free trade can be defined as the free access of the market by individuals without any restriction or any trade barriers that can obstruct the trade process such as taxes, tariffs and import quotas. Free trade in its own way unites and brings people together. Most individuals love the concept of free trade because it gives them the ability to move freely and interact in the market. The whole idea of free trade is that it lowers the price for goods and services by promoting competition. Domestic producers will no longer be able to rely on government law and other forms of assistance, including quotas which essentially force citizens to buy from them. The producers will have to enter the market and strive into to obtain profit.
during the 1950s, the purpose of economic globalization was to expand the economy fund in various industrial projects in developing countries around the world. Therefore, in 1947, the General Agreement on Tariffs and Trade (GATT) was being established as a global trade of organization that in charge with fashi...
They explain that, with the reduced or zero tariffs imposed making foreign suppliers easily lowering their prices, local companies have to compete with the prices, which they should do even if it is difficult for them, or consumers will go for imported goods over their locally produced products- Opponents of free trade say that with the increasing competition this treaty offers, some businesses might close down or decide to do business elsewhere. When this happens, workers will be displaced. Regardless of the reduced prices, this will still have an effect on these workers because they will be unemployed or paid with lower wages. - the opponents of free trade will continue to espouse the old argument that "the jobs created by globalization are often less sustaining and secure than the livelihoods abolished by it [in poor countries]." (froning)
For the first time, causing many to wonder, “What is globalization exactly, and why are the protesters so against it? “ “What are the mysterious institutions the WTO, the IMF, and the Bank- that the media keep? “ “And what could be so problematic about free
Frank, Barney (1999), “The Correct Approach to Globalization,” Congressional Record, [http://apcentral.collegeboard.com/apc/public/repository/ap05_comp_govpol_glob_42253.pdf], accessed 17 May 2012.