Question

One argument in the debate surrounding globalization is about the inequality between developed and developing nations....

One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Do you think the recent increase in barriers to trade is a help or a hindrance to reducing inequality? Why? and the whole question should have 500-words.

Homework Answers

Answer #1

Answer: The recent increase in barriers to trade is a hindrance to reducing inequality because increase in trade barriers cause a limited choice of products and, therefore, would force customers to pay higher prices and accept inferior quality.

The trade barriers are detrimental and decrease overall economic efficiency. This can be explained by the theory of comparative advantage. In theory, free trade involves the removal of all such barriers, except perhaps those considered necessary for health or national security. In practice, however, even those countries promoting free trade heavily subsidize certain industries, such as agriculture and steel.

Trade barriers are often criticized for the effect they have on the developing world. Because rich-country players set trade policies, goods, such as agricultural products that developing countries are best at producing, face high barriers. Trade barriers, such as taxes on food imports or subsidies for farmers in developed economies, lead to overproduction and dumping on world markets, thus lowering prices and hurting poor-country farmers. So basically, trade barriers generally favor rich countries and tend to be anti-poor, with low rates for raw commodities and high rates for labor-intensive processed goods. As rich countries tend to set international trade policies and standards.

With increased international trade and global capital flows, income disparities between the rich and poor are exacerbated, and industrialized nations grow in power at the expense of under-capitalized countries.

Anti- globalization groups continue to protest what they view as the unethical trading practices of multinational businesses and capitalist nations, often targeting groups such as the WTO and IMF.

Therefore, increase in barriers to trade is a hindrance to reducing inequality.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
One argument in the debate surrounding globalization is about the inequality between developed and developing nations....
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality. Please answer the qyestion in more than 500 words.
One argument in the debate surrounding globalization is about the inequality between developed and developing nations....
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality.
One argument in the debate surrounding globalization is about the inequality between developed and developing nations....
One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality. Please Is there anybody who can give unique answer because i do not need similarities .. Please give unique answer...
Write 500 words (+ 50 words) using APA style format to answer the following question. Unit...
Write 500 words (+ 50 words) using APA style format to answer the following question. Unit Exercise 1 One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality. I need different answer please ..
Write 500 words (+ 50 words) using APA style format to answer the following question. Unit...
Write 500 words (+ 50 words) using APA style format to answer the following question. Unit Exercise 1 One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality. Subject is International Business Environment
"Unfair" Import Competition Unions in developed nations often oppose imports from low-wage countries and advocate trade...
"Unfair" Import Competition Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as “unfair” import competition. Is such competition “unfair”? Do you think that this argument is in the best interests of (a) the people they represent, and/or (b) the country as a whole?
QUESTION 1 Some examples of policy tools aimed at reducing inequality include all but which of...
QUESTION 1 Some examples of policy tools aimed at reducing inequality include all but which of the following:         Encouraging entrepreneurs         Imposing anti-competitive measures         Imposing administrative barriers to trade         Maintaining fairness in market mechanisms 0.25 points    QUESTION 2 Corruption is a serious issue in all but which one of the following countries?         Philippines         Indonesia         China         Australia 0.25 points    QUESTION 3 Supporters of capitalism...
SCENARIO BACKGROUND: The controversy surrounding the European Union, as well as the recent increase in tension...
SCENARIO BACKGROUND: The controversy surrounding the European Union, as well as the recent increase in tension between the U.S. and Canada leaders, prompted many American analysts and politicians to weigh pros and cons and predict likely economic of closer integration in North America. While most agree a US-Mexico union would have outweighing negative consequences for the US at this stage, primarily because of the great economic, political, societal and cultural differences between the countries, there is no consensus on the...
Use the business developed below. Explain the 10 assumptions that you used in developing this business....
Use the business developed below. Explain the 10 assumptions that you used in developing this business. Overview- We are going to start a bakery business as I have my interest in bakery. This is going to be start-up business plan. The name of our Bakery would be “Bake It or Make It”. It would be managed by me along with my team of new bakers around the city. Opening a bakery at initial stage would involve a lot of investment...
Use the business developed below. Explain the 10 assumptions that you used in developing this business.(...
Use the business developed below. Explain the 10 assumptions that you used in developing this business.( please explain ) Overview- We are going to start a bakery business as I have my interest in bakery. This is going to be start-up business plan. The name of our Bakery would be “Bake It or Make It”. It would be managed by me along with my team of new bakers around the city. Opening a bakery at initial stage would involve a...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT