Issues in International trade - Essay Example

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International trade has given rise to a world economy in which prices or supply and demand affect and are affected by global events. International trade gives consumers the…
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Issues in International trade
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Download file to see previous pages They include consultancy and tourism among others. A product sold in the international market is an export while a product bought from the same market is an import.
Trade issues often dominate and are a continuing theme in the international market. The issues include NAFTA, embargoes, sanctions, and the environment, trade deficits, The Euro, tariffs and WTO among others. Some of the issues are discussed as follows:
A reduction in trade barriers allowing for integrated global economies and permitting international trade will affect the environment through the expansion of economic activities. It alters the composition and make-up of economic activity by bringing about a change in the techniques and means of production. The course of consideration and for environmental protection was raised by environmental groups on the potential North American Free Trade Agreement (NAFTA). This was just the first of a far cry to other voices opposing international or regional trade on the possible effects it may have on the environment. It is seen that an increase in international trade is detrimental to the objective of preserving a clean, healthy and sustainable global environment. It has been argued that any expansion of market to a global scale, ultimately leads to the environmental pollution and faster depletion of natural resources. These natural resources are scarce in nature. For example, international trade of coal has made it easier for countries to acquire it for economic activities. Coal has been known as a leading environmental pollutant.
International trade has facilitated the growth of industries whose primary objective is the export of goods to the international market. For example, the United States has promoted several of such agreements such as the African Growth and Opportunity Act (AGOA) and the NAFTA. These agreements have led to the rapid growth of industries that have little government oversight and control. These ...Download file to see next pagesRead More
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