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International Trade: Restrictions

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Should we restrict international trade? Why or why not? What are the pros and cons? Let's see both sides of this complex issue. HINT: Remember that there are different and legitimate stakeholders - all of whom have different perspectives about this issue - employees, employers, consumers, business owners, investors, businesses, government, suppliers, unions, etc.

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Protection of local industries is explained in this response. The answer includes a reference.

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We should not restrict international trade. International trade helps us consume products that our country cannot produce. It directly helps the consumer. International trade promotes international peace and amity. Further, the surplus that a country produces is used properly because of international trade. International trade helps reduce fluctuation in ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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