INTB 1209 Lecture 8: Debate II - International Trade as a driver of economic prosperity
6 Feb 2020
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Debate ii - international trade as a driver of economic prosperity. Motion : the shift toward a more integrated and interdependent global economy is a good thing . Falling barriers to international trade and investment are the engines driving the economy to prosperity. Against the motion https://www. weforum. org/agenda/2019/04/a n-economist-explains- the-pros-and-cons-of- globalization-b2f0f4ae. Top 1% and middle class in emerging economies are better off. Trade increases demand for unskilled workers in developing countries. Industrializing economies see a rise in manufacturing exports. Those with low skill level are left behind. Technology can overtake jobs that employ the majority of the population. Trade reduces demand for unskilled workers in developed countries. Trading with high-labor economies can reduce real wages. Rise in inequalities as low skilled workers are unemployed. Pathway to build economic and cultural bridges. Cause for global warming and environmental degradation. Raise of inequality = increased identity-based politics (populism) https://www. theguardi an. com/commentisfre e/2017/jan/10/thomas- friedman-style-globali zation-has-failed-we-n eed-internationalism https://shass. mit. edu/ news/2018-qa-econo mist-thomas-piketty-gl obalization-and-inequ ality.
