Question

Why do some people argue against free trade? Please illustrate your answer with relevant examples from both economic and political perspectives.

I need help on structuring the assignment and also ideas that will allow me to expand on as this question requires 2000 words, help will be much appreciated. Thanks

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Identify what the question wants by breaking it down into parts

Use your analysis to give you focus – will help you avoid

large chunks of irrelevant material.

The wording of the question is deliberate . All aspects of the question are important

Include the question at the beginning of the essay

Thanks

Answer 1

. Some people argue against free trade because of the following reasons:

1. Free trade is against the domestic industries because some time the global competition destroyed the broad domestic firms in the short run and in the long run.
2. Free trade is irrelevant in the context of self reliance of the economy.
3. Free trade deliberately changes the consumer’s taste and preference and that’s why it is sometime against the national trade policies.

The above stated reasons are from the point of view of Economic perspectives.

The following are the prospects of political perspectives:

1. Free trade also destroy the political stability when the dependency of the trade is totally depend on the other state existence.
2. Free trade is a way to increase the surplus and deficit in the BOP which also put the question over the stability in the economy.
3. Protection of domestic industries are also the responsibility of government so the free trade also create a challenge in front of the government.

Q- Framing of a question:

Q1- What is the positive aspects of free trade in Asian countries ?

Q2- Why free trade is an integral part of any economy?

Q3- why free trade is a policy of reconstruction of sick units?

Q4- how you can relate the free trade with the development of global market?

Q5- what is the role of trade organisation in the free trade ?

Q6- What is the role of free trade in the process of employment generation?

Q7- “Domestic market also focussed on the quality”. Is there any connection of this statement with the free trade.

Give the relevant answer of the above stated questions by reading the given paragraph.

The proposed free trade among the Asian countries are nearing finalisation as all the countries have concluded the negotiations for the pact, the commerce ministry of India expressed their views on this statement.

The economic cooperation of many countries are in a favour of protection of domestic industries.

Domestic industries are now facing a difficult condition in the establishment of international quality standards as compared to global industries.

Domestic industries are seeking a protection plan which includes the easy loan, section subsidies, and other financial aids.

Several sick units are in a way of reconstruction of the present base plans and therefore, government has taken positive steps towards the reconstruction.

These industries are basically producing the consumer goods which are in high demand.

Market regulations also enhance the requirements of the global industries because of high demand in the domestic market.

Here, I am referring an article of India today which are in support of the free trade establishment:

“In a free trade agreement, two trading partners cut or eliminate duties on majority of goods besides liberalising norms to promote services trade and boost investments.

Mauritius was the second top source of foreign direct investment (FDI) into India in 2018-19. India received USD 8 billion (about Rs 56,000 crore) foreign inflows from the country.

The bilateral trade between the countries increased marginally to USD 1.2 billion in 2018-19 from USD 1.1 billion in 2017-18.

India exports petroleum products, pharmaceuticals, cereals, cotton and electrical machinery, apparel and clothing accessories to Mauritius.

The island nation's exports to New Delhi include iron and steel, pearls, precious/semi-precious stones and optical, photographic and precision instruments.

It also said that in order to promote India-Africa trade and economic relations, the ministry regularly reviews trade ties through institutional mechanisms like Joint Commission Meetings, Joint Trade Committees and Joint Working Groups.”