Term Paper on "Global Community Free Trade Impacts Every Level"
Term Paper 4 pages (1211 words) Sources: 1+ Style: MLA
[EXCERPT] . . . .
Global CommunityFree trade impacts every level of the global economy and has a particularly strong impact on the economies of developing nations and small communities. However, the wealthiest nations in the world stand to gain as much if not more so than their poorer counterparts. Wealthy nations control vast amounts of wealth, political power, and natural resources. The G8's clout ensures that free trade is not an egalitarian or just global economic system. If it were, small independent businesses and entrepreneurs around the world would have greater access to foreign markets and foreign direct investment. As it stands, free trade benefits mainly those corporations that already control a substantial portion of the global market. Moreover, larger corporations can take advantage of international and regional free trade agreements in ways smaller firms cannot: through the mobilization of people, goods and services. Free trade therefore tends to benefit those who are already wealthy and in many cases threatens to increase income disparity not just in developing countries but in wealthy ones. In fact, nations like the United States and Canada are exhibiting increased income disparity even while a middle class is growing in nations like India.
However, free trade has had some positive impact on the global economy in terms of equalizing overall rates of GDP growth and domestic per capital income ("Free Trade, Growth and Convergence"). The World Trade Organization (WTO) claims that free trade "helps reduce poverty" even while acknowledging that "some people do lose in the short run from trade liberalization." One way citizens can lose in the short run is by reducing dependence on l
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Another way that citizens can lose to free trade in the short or long run is the low wage rate paid to workers in developing nations. Multinational corporations depend on low wage labor to sustain their foreign investments, and their actions amount to little more than indentured servitude. The impact this model has on the global economy is tremendous: leaving millions of workers dependent on low-wage jobs with little to no opportunities for upward social or economic mobility. Moreover, dependence on foreign or multinational corporations for a community's income can destroy local economies. In some cases, the majority population of a town migrates to the facility of a multinational company and leaves behind a dearth of infrastructure. Traditionally agricultural communities may suffer the most, because if the labor force fails to meet the sustenance needs of its citizens it can no longer rely on previous forms of income such as local small markets or subsistence agriculture.
However, free trade can stimulate businesses in countries like China and India leading to flourishing local economies. If nations like China and India eventually pass domestic laws that protect domestic interests then it is possible that small businesses in those countries can thrive and leave local economies intact while still supporting free trade. Few who support free trade also support protectionism even though the two can peacefully coexist and not threaten the underlying principles of free trade. It may be essential to encourage the development of small to mid-sized local businesses to prevent some of the problems most associated… READ MORE
Quoted Instructions for "Global Community Free Trade Impacts Every Level" Assignment:
This is my major course's essay. Please do not copy and paste. If you do that, I will fail this course. When you need it, please put references. This paper is due on tuesday on 26th thus I need this paper by monday 25th. Also I want *****s Username: ***** to write this paper because he wrote one of this class paper last time. This is what my professor mentioned about this paper;
- In this essay, please address the following questions. How do ideas of free trade and their implementation by international organizations and corporations impact the global economy? In what ways do these ideas affect the living conditions of working women? At the end of your essay please write a concluding reflection in which you discuss, from your perspective, what problems in our global system need to be addressed.
Please note that a stong essay will do the following:
1. Analyze the main themes of the unit in a nuanced manner.
2. Formulate a clear position and argue for it by providing
evidence and logical reasoning
Please keep in mind the following academic integrity guidelines;
- You must specifically cite the sources of any facts(including statistics, tables, and graphs) that are not common knowledge; you must use quotation marks around all material from which you are quoting directly; and you must use footnotes or in-text references to cite all ideas and materials taken from other author, including class readings and web pages.
How to Reference "Global Community Free Trade Impacts Every Level" Term Paper in a Bibliography
“Global Community Free Trade Impacts Every Level.” A1-TermPaper.com, 2008, https://www.a1-termpaper.com/topics/essay/global-community-free-trade-impacts/67158. Accessed 5 Oct 2024.
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