International Trade Debate

Although disadvantages exist with unrestricted international trade, many more benefits and opportunities exist, outweighing any negative tendencies. This sort of trade tends to give opportunities to countries that are trading, allowing them to prosper through diversity in labor that is divided internationally -- allow local producers of goods to have access to international markets. It is the minimum restrictions of unrestricted international trade that allows for an economy to prosper.

Many individuals might state that competition may harm business within a country's economy, but I tend to disagree because competition is a main factor in allowing innovation as well as efficiency to exist and even allows prices of goods to be pushed downwards to keep up with competitors. Microeconomic theory states that when compared to pure competition, no resource allocation system has greater efficiency. Competition drives firms to keep creating new technologies, services, and products, giving customers a steady flow of a wide range of options and better products to choose from. Therefore, I believe competition from foreign firms will only encourage local forms to increase their efficiency and deliver products of greater value to local and international customers.

Unrestricted