International trade has pros and cons. Economists generally support free trade. International trade has played a significant part in promoting economic development and technology transfer among countries. There are also various arguments in favor of restricting international trade: protecting jobs, defending national security, helping infant industries, preventing unfair competition, and responding to foreign trade restrictions.
1. What is the impact of free trade on domestic job creation policy? Elaborate with examples.
2. What the impacts of outsourcing and off-shoring on trade liberalization (globalization) and economic structure?
3. What are the pros and cons of importing cheap goods and services?