Saturday, October 5, 2019

Outline the arguments for and against free trade Essay

Outline the arguments for and against free trade - Essay Example Free trade doesn't not only happen between the continents but it also happens between neighbouring nations. Argument about free trade can take many dimension including economic, moral, and socio-political arguments. Free trade takes many dimension and the proponents and opponents of the idea takes stands on the issue depending on their beliefs. In the last century, arguments on free trade were centred on the inequality that seems to persist between developed and developing nations which seem to be the mother of inequalities. There have been many campaigners who have been arguing for implementation of free trade policies in the last century and they hoped that the new century would come with a new perception on solving the inequalities between nations in the world through free trade. Apparently the campaign by these human activists and trade unions all over the world seem to have led to the development of essentially what we have been calling trade blocs that seems to emerge in all corners of the world. Analyzing the origin of the trade blocs, we can make formidable conclusion that all the trade blocks are created with an original aim of enhancing trade between members of the trade blocks. Trade blocs seem to be the new ideas on what the argument on free trade has taken. As we stand, the European Union remains to be the largest trade bloc in the world. European Union has been able to campaign for trade policies of its members and there is some success that can be attributed to the formation of the trade bloc. The European Union seems to be engaged in a massive recruitment of new members some who are not considered as vital to the operation of the bloc but a move which is seen as to consolidate more region under the bloc to empower it negotiation base. In America NAFTA has been negotiating for free trade for its members. Though small in number of members, NAFTA has been able to create a formidable trade bloc that has been able to negotiate for fair trade terms between its members and between the members and the international market. In South America, MERCOSUR has been expanding year after year admitting new member in South American and soon there is a possibility of the whole region coming under control of MERCOSUR. It has been able to negotiate for fair trade terms of its members in the international market. (Congressional Budget Office, 2003) In African, there are a number of trade blocs including SADDC, EAC, COMESA and others all which negotiate for free and fair trade terms between the members and between the member and the international community. In the Middle East there is the Gulf Council which brings together most of oil producing countries in the region together and which enables members to negotiate for free and fair trade terms. In Asia there also trade block which brings together members of the Asian community. But one peculiar view of Asia as far as trade blocks are concerned is the growing recruitment of some countries into the European Union especially the Balkan countries. This simple analysis shows how the concept of free trade has become to the world. It is the motto the modern international market. Eventually it seems as the concept of free and fair trade will lead to formation of new axis in the world all which will be campaigning for free trade. Let us look closely at arguments for and against free trade Arguments for free trade Since the concept of fr

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