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World Trade Organization and International Trade

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Write 200-300 words arguing for or against unrestricted international trade. Some possible platforms on which to write are comparative advantage, gains from trade, World Trade Organization, and trade restrictions. Support your position with three specific reasons.

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Solution Summary

This posting debates the pros and cons of unrestricted international trade. It also explains the benefits to world trade from the World Trade Organization.

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Unrestricted international trade is likely to be helpful to all countries. The law of comparative advantage explains why it can be beneficial for different parties to trade if one has a lower relative cost of producing some good. So, if there is a lower opportunity cost then it is beneficial to trade. This theory of Adam Smith recommends free trade. ...

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