Week 2 Discussion: Global Trade and Quality of Life
Required Resources
Read/review the following resources for this activity:
- Textbook: Chapter 3
- Lesson
- Minimum of 1 scholarly source
Initial Post Instructions
It has been said that global trade improves the quality of life. Do you believe that this is true? Are there examples of global trade lessening the quality of life in a particular country or region? Does everyone benefit equally from global trade? Why or why not?
Using research, argue either for or against the statement that global trade improves the quality of life.
Follow-Up Post Instructions
Respond to at least one peer. Further the dialogue by providing more information and clarification.
Writing Requirements
- Minimum of 2 posts (1 initial & 1 follow-up)
- APA format for in-text citations and list of references
Solution:
Generally, global trade does improve the quality of life. First, global trade allows countries to import resources, products, and services that are otherwise scarce in their jurisdiction (WTO, 2012). Such importation helps amend critical scarcity and inadequacies. Secondly, trade facilitates national and economic growth via exchange of techniques, technologies, and ideas (WTO, 2012). It facilitates exchange of production methods that promote efficacy and increased production. Thirdly, international trading helps drive the prices down owing to increased competition. This aspect is especially beneficial in contexts whereby consumers have a low income. Notably, it makes products and services relatively more affordable (WTO, 2012). It also increased access to a wide variety of products and services. Overall, it helps raise consumers’ ability to secure their basic needs. Fourth, international trade attracts foreign domestic….Please click the icon below to purchase full answer at only $5