Introduction
Do international economics of free trade important in the United States of America and in the world of different countries? Therefore, according to the article of "Embracing the Challenge of Free Trade: Competing and Prospering in a Global Economy", Ben S. Bernanke, who is the author and the Chairman of the Montana Economic Development Summit 2007 Butte, MT, had said," international trade in goods, services, and assets, like other forms of market-based exchange, allows us to transform what we have into what we need or want under increasingly beneficial terms. Trade allows us to enjoy both a more productive economy and higher living standards" (Bernanke). Free trade is very important as international economics will cause both advantages …show more content…
However, according to the article of “The Benefits of Free Trade: Addressing Key Myths”, Donald J. Boudreaux and Nita Ghei, the authors whose had said that free trade does not create more job opportunities, but there is also neither protectionism. Free trade can reduce the work of inefficient industries, yet it can save resources as to create efficient industrial employment opportunities, increase overall wage levels, and improve people’s living standards. Protectionism, on the other hand, trying to protect employment, the market will not be able to maintain at the expense of more innovative industry (Boudreaux). In additional, people also think that technology is the cause that making the United State of America jobs loss because businesses are greedy as workers nowadays are facing in higher risk for being replaced by robots. Furthermore, businesses making this decision is because the more the workers, the less profits they will earn. Also, businesses built the latest technology may built cheaper in other countries as result increasing job outsourcing. In contrast, according to the article of “Free Trade Agreements Pros and Cons: Six Advantages and Seven Disadvantages and Their Possible Solutions”, the author who named called Kimberly Amadeo had said, “Local companies also receive access to the latest technologies from their multinational partners. As local economies grow, so do job opportunities. Multi-national companies provide job training to local employees” (Amadeo). Yet, it’s true that technology may cause job loss, the newest technology can create even more job opportunities because those opportunities can be training in locally for helping the workers to learn newest skills as increasing their wages overall, and improving their standards of
Do international economics of free trade important in the United States of America and in the world of different countries? Therefore, according to the article of "Embracing the Challenge of Free Trade: Competing and Prospering in a Global Economy", Ben S. Bernanke, who is the author and the Chairman of the Montana Economic Development Summit 2007 Butte, MT, had said," international trade in goods, services, and assets, like other forms of market-based exchange, allows us to transform what we have into what we need or want under increasingly beneficial terms. Trade allows us to enjoy both a more productive economy and higher living standards" (Bernanke). Free trade is very important as international economics will cause both advantages …show more content…
However, according to the article of “The Benefits of Free Trade: Addressing Key Myths”, Donald J. Boudreaux and Nita Ghei, the authors whose had said that free trade does not create more job opportunities, but there is also neither protectionism. Free trade can reduce the work of inefficient industries, yet it can save resources as to create efficient industrial employment opportunities, increase overall wage levels, and improve people’s living standards. Protectionism, on the other hand, trying to protect employment, the market will not be able to maintain at the expense of more innovative industry (Boudreaux). In additional, people also think that technology is the cause that making the United State of America jobs loss because businesses are greedy as workers nowadays are facing in higher risk for being replaced by robots. Furthermore, businesses making this decision is because the more the workers, the less profits they will earn. Also, businesses built the latest technology may built cheaper in other countries as result increasing job outsourcing. In contrast, according to the article of “Free Trade Agreements Pros and Cons: Six Advantages and Seven Disadvantages and Their Possible Solutions”, the author who named called Kimberly Amadeo had said, “Local companies also receive access to the latest technologies from their multinational partners. As local economies grow, so do job opportunities. Multi-national companies provide job training to local employees” (Amadeo). Yet, it’s true that technology may cause job loss, the newest technology can create even more job opportunities because those opportunities can be training in locally for helping the workers to learn newest skills as increasing their wages overall, and improving their standards of