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5.05 Should Free Trade Be A Goal
Transcript of 5.05 Should Free Trade Be A Goal
Pro Free Trade
The image to the left says, "You drive a Japanese car, drink french wine, eat chinese food, own an American computer, buy canadian lumber and vacation in Mexico. How can you be AGAINST free trade?!" The cartoon is implying that the man buys and uses stuff from all over the world but is somehow against free trade. The author's viewpoint is that for free trade. He says at the end, "How can you be AGAINST free trade?!" This tells me that the author doesn't understand how someone who can use stuff from all over the world can be against free trade, which reflects the authors commitment to free trade. I agree with this image. I think that free trade is a good idea. It helps our country out economically and helps us become allies with other foreign countries.
Anti Free Trade
The image to the right shows a man representing corporate America excited that we finally have free trade. While on the left, US workers and workers abroad are miserable because of the effects it has on them. The author feels that if there is free trade, US workers will lose jobs and workers abroad will have slave like wages. I do not agree with this image because there are certain things that we just cannot produce in the US because of lack of natural resources. Other countries can produce these items for us and we can produce items that they cannot produce to trade with them.
By Elena Fernandez
Economics with financial applications
What is protectionism?
Protectionism is when the government restricts international trade. A country might base its trade policy on it because they can prevent local businesses and jobs from foreign countries competition. Also, if a country is not getting along with another country, they can place high tax on the items the other country needs so that it makes it harder for them to obtain those items.
Benefits and costs of free trade
1. Get items cheaper
2. Creates allies with other countries, helps prevent countries from attacking one another.
1. Unemployment rate will rise in US
2. Weaker countries can be taken advantage of more easily