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Free trade versus Protectionism

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Trade negotiations of the Transatlantic Trade and Investment Partnership (TTIP) and The Trans-Pacific Partnership (TTP) trade deals have provided more fuel to the fire of this ongoing debate.

Publié dans : Économie & finance
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Free trade versus Protectionism

  1. 1. This debate never fails to be a furious one.
  2. 2. it is accepted by many acknowledged economics circles developed economies advantage from free trade.
  3. 3. Reducing trade barriers decreases costs and stimulates long-term productivity growth.
  4. 4. There are, however, some of the undeniable pitfalls of free trade.
  5. 5. Protectionists contend that free trade can incentivize foreign currency manipulation and mercantilism.
  6. 6. Trade negotiations of the Transatlantic Trade and Investment Partnership (TTIP) and The Trans- Pacific Partnership (TTP) trade deals have provided more fuel to the fire of this ongoing debate.
  7. 7. Free Trade Argument
  8. 8. classicalpro-freetradeargumentcitesthe benefitsoftheincreasedcompetitionand specializationthatfreetradebrings.
  9. 9. lower prices/costs
  10. 10. more variety of goods
  11. 11. higher quality of goods
  12. 12. These factors increase productivity growth and living standards.
  13. 13. Trade barriers can cause conflict between countries and lead to fearsome trade wars that destroy the potential for mutual benefits from trade, and also spark the possibility of military conflict.
  14. 14. Protectionist Argument
  15. 15. Protectionists argue that a free trade policy incentivizes the countries So it trades with to practice mercantilism and manipulate their currencies in o rder to maintain this po sitive balance o f trade.
  16. 16. Perhaps, China is doing this very thing.
  17. 17. I incline more toward the free trade view, however I do feel that the danger of different nations manipulating currencies and accumulating large foreign monetary reserves should not be ignored.
  18. 18. BYBY M V S SAI HEMANTM V S SAI HEMANT BBAFO REIGNTRADEBBAFO REIGNTRADE UPES , DEHRADUNUPES , DEHRADUN UTTARAKHAND, INDIAUTTARAKHAND, INDIA

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