How can the rest of the nation help unfortunate ones cope

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Problem I. As a foreign policy tool, trade embargoes, such as U.S. embargoes against Cuba, Iraq (until 2003), and North Korea, are meant to discourage foreign governments. But they also cause a great deal of misery among the population (such as shortages of medicine and food). Are embargoes ethical?

Problem II. While the nation as a whole may gain from free trade, there is no doubt that certain regions, industries, firms, and individuals may lose their jobs and livelihood due to foreign competition. How can the rest of the nation help the unfortunate ones cope with the impact of international trade?

Problem III. Do you think that the US trade policy is protectionist? Why? (Here I am looking for: your thought process and the ability to clearly demonstrate an understanding of "trade policy" and "protectionism.")

Reference no: EM133483296

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