Understanding the Benefits of International Trade

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At first I totally one hundred percent agreed with pro international trade, then after reading the discussion forum on international trade I started to waver from some of the comments other students have made. After doing more research and weighing the pros and cons of international trading, I still am pro international trade. The reasons I am for international trade are because I feel that international trade can foster good will, peace and understanding between nations. It can help foster the development of languages across countries. It can help develop technical standards and currency uniformity and it can create an economic interdependence between countries that can help countries escape war breaking out over trade agreements/disagreements. …show more content…

International trade helps countries gain access to things they cannot produce because they cannot economically afford to produce these products or they do not have the resources to produce them. An example of this is Kenya and the United States, Kenya is reliant on the United States for its technology and electronic appliances. If the United States is not able to supply electronics to Kenya, then Kenya will have a crisis. Similarly, the United States is depends on Kenya for its supply of tea. If Kenya and is unable or no longer willing to trade Tea to the United States, then the US will have a trouble meeting the consumers need and demand for tea. This benefits consumers so that they have access to things their country cannot produce and give more choice. When it becomes cheaper or more efficient to import from other countries it can also help maximize the usage of resources. This allows for more competition and better prices it also prevents an excess of surplus when we trade to other countries. World trade organization W T O or international …show more content…

It is very important that developing countries, share in the growth and expansion that international trade can bring to them. The W.T.O. agreement recognizes the importance of how international trade can boost the economics of third world countries. In the recent economic crisis that affected us on a global scale the decline of exports in developing was smaller than those of developed country. Not all countries do or are able to participate equally in international trade because they may suffer from political and/or economic uncertainties. Asia and the US are leaders among the import/export trade while Africa, Latin America and the Middle East are minor contributors in the world trade

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