Trade Liberalization

Argumentative Essay # 99580

Asian Studies
Economics
Economics > International

This paper explores different viewpoints on the subject of free trade and trade liberalization.

1,012 words () | 5 sources | MLA | 2007 United States

Paper Summary:

The paper reviews five articles on the subject of trade liberalization and argues that trade liberalization has been revealed to be largely a global good. The paper uses Asia as an example to illustrate how free trade contributed to its phenomenal growth and current wealth. The paper points out that while there have been social problems associated with free trade, these can be addressed by policy initiatives. The paper concludes that trade liberalization has created wealth and economic growth and thus should be promoted as much as possible.

From the Paper:

"In the Business Week special issue "Global Capitalism: Can it Be Made to Work" the record of globalization is examined with a level of criticism that is remarkable for a "business" publication. The opening article by Engardio and Belton sets the tone for the issue in contending that: "The plain truth is that market liberalisation by itself does not life all boats" (Engardio and Belton 73). The authors argue that globalization has led to extraordinary economic disparities which carry the long-term danger - if the world's poor do not see the benefits from free trade - of the unravelling of globalized capitalism (Engardio and Belton 75). The authors cite studies that indicate that there is "no automatic link between openness and growth in developing countries" (Engardio and Belton 75)."

Sample of Sources Used:

Cavanagh, John and Anderson, Sarah. "Happily Ever NAFTA?"Foreign Policy. September-October (2002): 58-65.
Coughlin, Cletus, Chrystal, K. Alec, and Wood, Geoffrey."Protectionist Trade Policies: A Survey of Theory,Evidence, and Rationale." Federal Reserve Bank of St. Louis. January-February (1988).
Engardio, Pete and Belton, Catherine. "Global Capitalism: Can itbe made to work better?" Business Week. November 6 (2000):72-76.
OECD - Organization for Economic Co-operation and Development."Open Markets Matter: The Benefits of Trade and InvestmentLiberalisation." OECD Observer. (1999).
Rodrik, Dani. "Trading in Illusions." Foreign Policy. March-April (2001): 55-62.