As global trade increases, many goods including those we use on daily basis are produced in other countries and transported long distances. Do the benefits of this trend outweigh the disadvantages?
Sample Answer
The growing number of consumers has led to an increase in investments in global trade, resulting in a significant proportion of people's daily needs being imported from other countries. While there are some benefits associated with international trading, I believe that the drawbacks are more substantial. In this essay, I will discuss both aspects
On the positive side, global trade can help balance the demand and supply of goods in countries with large populations. Local businesses may not be able to meet the needs of the entire population, so importing goods such as crops, clothing, and technology can be beneficial. Additionally, importing goods from other countries can bring diversity to the products available in local markets. For example, countries without access to sea and fishing can import a variety of seafood to meet the dietary needs of their population.
However, international trading can also pose a significant threat to local and small businesses. They may face fierce competition from foreign companies with superior financial resources, advanced technologies, powerful brands, and marketing systems. Without government subsidies, they may struggle to overcome this situation and ultimately be eliminated from the market. Moreover, imported products tend to be more expensive due to the cost of transportation and high taxation, which increases the final price of the products.
In
conclusion, although international trading may seem advantageous under certain
circumstances, I believe that its negative impact on local markets and the high
prices of imported products outweigh the benefits.
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