Harms from Unrestricted International Trade



Harms from Unrestricted International Trade

Although the advantages to unrestricted international trade are important, the disadvantages are also critical to our economy and our standing in the world economy. The most important reason for having laws and restrictions in trade is the safety of the people in each country. The relationships formed because of trade can also be disbanded when trading problems arise because there is no laws and regulations to make sure that everything is done fairly. I think international trade is great for all countries, but there should be regulations and restrictions, without them this wonderful idea will turn into a nightmare.

Even if some countries do not have access to all natural resources, laws have to be made so that those countries that do have access do not take advantage of those that do not. Another important factor to consider is countries becoming completely reliable on one another. This makes time of war particularly difficult. For example, if a country gets into an argument and cannot sustain itself, this will cause terrible suffering for its people until the argument is resolved.

Finally, although having unrestricted international trade does lower prices for consumers it hurts domestic companies and the citizens of that country. If the local people are not doing as well because of foreign competition, then this does not in turn help the economy, but ultimately hurts it. Therefore, it is of utter importance that international trade be done under laws and regulations.

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