Question: Why do you agree with this statement? The worlds poorest countries have disadvantages that almost seem impossible to fix. A free trade agreement is a

Why do you agree with this statement? The worlds poorest countries have disadvantages that almost seem impossible to fix. A free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them. (Barone, 2020) Free trade has the will of reducing barriers among the poor countries, or underdeveloped countries. Such imports could be cheaper for the developing country, and this is good since the country may not have the goods and services to exports. In addition, since developing countries also have a poor economy, free trade can aid in obtaining the resources needed so that country can produce their own goods and services. With the developing country now having the resources to produce their own they can slowly increase the health of their economy with goods that are now able to be exported and traded. It is also important to know that most developing countries do not have the protection that other developed countries may have, so they may experience international threats, but when there is free trade with a developed country, for instance, the United States, then they could be reassured they will be protected from such threats. A free trade agreement with a developed country can also strengthen their protection by strengthening their military and government. In all, free trade agreements are imperative for developing countries. The free trade agreement gives the support and resources that are needed to grow and to strengthen the weak economy. It also encourages those poor countries to become educated to keep their economy strong.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!