Reference no: EM131173952
Match each anti-trade argument with its counter argument.
1. When we depend on imports to provide necessary products (food, oil etc.) we make ourselves vulnerable to the will of other countries. If they decided to stop selling to us then our economy or society could be critically hurt.
2. In order to develop new industries in an economy, they need to be protected from fierce international competition until they are mature.
3. Trade causes some industries to decline and people in those industries to lo9se their jobs. In order to protect those jobs, trade should be stopped.
A: When engaging in trade, the countries involved become interdependent, and therefore are less likely to allow themselves to fall into conflict and cut off trade
B: Once an industry is protected by tariffs or subsidies, it becomes politically difficult to remove those protections, and the protected industry can become an inefficient drag on the economy.
C: Trade causes the most efficient industries to grow, and others to shrink. Once this happens the economy will be more dynamic, but stopping this process we are settling for a less efficient, less dynamic economy.
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