Opponents of __________ have argued that the related agreements are dangerous because such agreements advance and establish proc

Question

riadik2000 [5.3K]

2 years ago

11

Opponents of __________ have argued that the related agreements are dangerous because such agreements advance and establish proc

edures that protect participating nations from the benefits of free trade.

Business

1 answer:

Lapatulllka [165] · Answer 1 · 2023-03-16T10:42:14+03:00

The blank space should be filled with; Free Trade Agreement (FTA).

<h3>Free Trade Agreement</h3>

The arguments for or against the free trade agreement have stemmed over the years.

<h3>Arguments for the free trade agreement:</h3>

It enhances goods and services to be produced more efficiently. Partly because it encourages goods or services to be produced where natural resources, infrastructure, or skills and expertise are best suited to them. On this note, productivity increases, which can lead to higher wages on the long run.

<h3>Argument against the free trade agreement:</h3>

The major argument against free trade is that, when free trade introduces lower cost international competitors, it pushes domestic producers out of business.

Additionally, free trade not only reduces jobs in some participating industries, but it also creates excess of jobs in other industries.