Question

What are the concerns related with international trade?

Answer 1

International trade can prove to be detrimental to nations if it leads to dependence on other countries, uneven levels of development, exploitation, and commercial rivalry leading to wars. Global trade affects many aspects of life; it can impact everything from the environment to the health and well-being of people around the world. As countries compete to trade more, production and the use of natural resources spiral up, resources get used up faster than they can be replenished. As a result, marine life is also depleting fast, forests are being cut down and river basins are sold off to private drinking water companies. Multinational corporations trading in oil, gas mining, pharmaceuticals, and agri-business keep expanding their operations at all costs creating more pollution – their mode of work does not follow the norms of sustainable development. If organisations are geared only towards profit-making, and environmental and health concerns are not addressed, then it could lead to serious implications in the future.