Thread started: Apr 28 2008, 6:35 AM EDT
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I looked around and didn't really find this chaper's student thought forum so i decided to start one,
Is international trade and finance good or bad for a certain country? Will two countries ever be better off not trading at all?
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RE: Is International trade and Finance good or bad for a country?
By: ChrisFishSeah,
Apr 29 2008, 7:53 AM EDT
Assuming that every country is honest, yes, international trade is extremely beneficial to national economies. Refer to the extending of the "trade possibilities curve" - that is, countries may specialize in their own product and end up producing more together than they would have individually.
This is the ideal economic view. However, there are many instances of exploitation in the real world where more powerful countries take advantage of poorer ones. Good examples include the slave wage factories run in Mexico, China, Indonesia, and India just to name a few. These activities may count as international trade but they aren't necessarily good.
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