Both sides of free trade Research Paper Example | Topics and Well Written Essays - 1750 words

Both sides of unblock backup - Research Paper Exampleironmental sustainability, the citification mechanism of producers in exporting countries and certification of products in importing countries and creating awareness of such products among consumers of the developed world (Singh, 2001).On the other overstep degage trade is a global effort to carry out international trade free of negative protectionist practices such as higher tariffs on imports, subsidies to domestic producers, foreign exchange restrictions, dumping cheaper goods abroad, fantastic dubious standards on imports and import substitution by propping up unwieldy domestic industries. Theoretically free trade is based on neoliberal economic principles dating back to Ricardos argument on the principle of comparative advantage.Free trade and fair trade arent necessarily the same though some of the ultimate outcomes would converge. In fact divergences between the two are many and if free trade were practiced with full f orce indeed, fair trade would take a back seat. Globalization has been the witness word utilize by many who advocate free trade. Such people vehemently project all and everything in the name of free trade. On the other hand fair trade is a distant cousin of free trade. An inevitable aspect of this relationship between the two is that the former is marginalized opus the latter is well placed at the center of the global market. Fair trade is essentially exuberant with intricate nuances ranging from market access facilitation processes to marginalized producers to sustainability efforts. Such noble principles need some theoretical and conceptual frameworks to hold up them though.Free trade theories are many while the principle of comparative advantage is the most rife among them. The basis on which free trade is advocated by its supporters is determined by a series of arguments which in turn are associated with neoliberal perspectives. In the first place globalization is the log ical premise used by supporters of international free trade to