Essay on Free Trade Agreements: A Growing Trend Across the Globe

Essay on Free Trade Agreements: A Growing Trend Across the Globe

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Free trade agreements have been an increasingly growing trend to join across the globe. These agreements have been able to gain a strong base of supports who feel there are many advantages in becoming a member of any number of free trade agreements currently in existence. One of the largest economic blocs in China is the Asian Pacific Economic Cooperation (APEC), which has been able to bring both advantages and disadvantages to China. By being able to understand what specific benefits exist in joining an economic block, we are able to understand why ASEAN has both benefited and challenged China.
Those who support free trade agreements or economic blocs feel that there are many advantages for a country to become a member to at least one of the many trade agreements that exist. The first advantage that supporters feels make these agreements so great is that it opens the access to a greater market which in turn enables a greater export market (Brainwise, 2012). This advantage is able to allow a country to have easier access to trade without having to worry about borders which allows for the second advantage to occur. This next advantage is more beneficial for consumers as it allows them to have a greater variety of goods sold in a single area. Then in support of the second advantage, we also see increased competition occur among members of that specific trade agreement (Trade Bits & Kumar, 2013). Finally, a last advantage that makes supporters feel so strongly about free trade agreements is the potential for stronger political stability (Brainwise, 2012). This enables countries involved in a free trade agreement to work better with the other countries involved.
By understanding why supporters feel so strongly about free trade agreem...


... middle of paper ...


...fer countries enable them to have better trade among other countries without having to have individual agreements. We are able to see this in China’s largest economic bloc, APEC. Being able to gain a better knowledge of how APEC has given China many advantages and a very notable disadvantage it illustrates why supporters feel the way they do about these agreements.



Works Cited

Asia-Pacific Economic Cooperation (2013). About APEC. Retrieved November 18, 2013, from http://www.apec.org/About-Us/About-APEC.aspx
Brainwise (2013, April 28). Explain the advantages and disadvantages of joining a trading bloc (International). Retrieved November 18, 2013, from http://wisebrain.info/explain-the-advantages-and-disadvantages-of-joining-a-trading-bloc-international/
Trade Bits, & Kumar, P. (2013). Home | Trade Bits. Retrieved November 18, 2013, from http://www.tradebits.com/

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