1. When is international trade an opportunity for workers? It is a well-known fact that international trade offers wide range of opportunities for all workers. For example, international trade suggests that economy isn’t closed meaning that such economy ensures stable economic growth, better job opportunities and better living standards compared with countries practicing closed economies. Further, international trade promotes investing in the poor and in such a way offering food subsidies for workers, as well as compensatory educational programs and training along with healthcare programs. (Taylor 2007)
2. When is international trade a threat to workers? Nevertheless, in some cases international trade may be a threat to workers and population. For example, in Mexico since NAFTA there is a significant increase of poverty despite an increase in available jobs and foreign investments. Actually, international trade doesn’t aim at reducing national sovereignty. Instead, it tends to create new incentives for governments paying less attention to common workers. For example, local governments may not have any policies aiming at protecting workers against dangerous tasks or work overload. (Anderson 2001)
3. What are some of the major challenges confronting the international trading system? International trade is swiftly developing around the world, but if also faces certain challenges. For example, nowadays international trade or globalization challenges balancing security as it tends to maintain strong cultural and economic ties considered rather important for well-being of any country. Secondly, international trade still pays too little attention to small states and it is a huge mistake. According statistics, “the small states consist of 45 states that make up over almost million people”. (Taylor 2007) Summing up, major challenges are ensuring proper security and developing policies in the small states.
- Anderson, Sarah. (2001). Seven Years After NAFTA. Retrieved January 10, 2008, from http://www. ips-dc. org/downloads/NAFTA%20at%207. pdf Taylor, Sheri. (2007).
- International Trade an Opportunity or a Threat to Workers. Retrieved January 10, 2008, from http://www. associatedcontent. com/article/132519/international_trade_an_opportunity. html
- US Government Documents: GAO-05-325SP 21st Century Challenges: International Affairs. (2004). Retrieved January 10, 2008, from http://www.gao.gov/challenges/internationalaffaris.pdf