This World Trade Organization Press Release demonstrates the impact of a declining world economy on global trade.
Discuss the pros and cons of imposing quotas on some imported goods. How would this affect the American economy?
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Some pros of imposing quotas on some imported goods include: political benefits for the government and more jobs in this country. When a company is on the way of growing strong to compete with foreign firms quotas help safeguard it from stiff competition. As a result this creates more job opportunities for local workers. Quotas also play an essential role in trade because they curtail the number of goods that are imported in a country creating shortages that can cause price fluctuations. They can protect local companies from foreign takeover. Through quotas the prices of imported goods become inexpensive so that people opt to buy local goods. This way the government ...
WTO press release impact of the declining world economy is examined.