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Western University
Political Science
Political Science 3366E
Nigmendra Narain

READINGS WEEK 23 SNOW CHAPTER 9FREE TRADE PRECISThe modern issue of trade probably congealed over whether to import goods and services that were also produced domestically During the difficult economic times of the past few years free trade has transcended the crisisUS to lead the campaign to reduce or eliminate tariffs worldwideThe removal of barriers to trade emerged as the centerpiece of the economic globalization movement of the 1990sEconomic downturn at the turn of the millennium an the rise of the global war on terror took some of the luster from the free trade issueGlobalization continues and proponents and opponents continue to fight over whether to expand or constrict free trade arrangementsThe lessons of interwar economics in turn helped from the international political debate and its institutionalization the topics of this case Free trade is said to be beneficial because it unleashes basic economic principles like comparative advantage and make overall economies national or international stronger and economic conditions within and between countries more vitalCries to restrict trade tend to be posed in terms of the adverse impact that opening up trade opportunities has on individuals Fair traders emphasize the need for compensatory actions for those individuals adversely affected by what they basically see as the beneficial impacts from free tradeWhen free traders extol the removal of barriers and antifree traders deride the possibility they are not talking about the same thingThe debate is intensely political at both the domestic and international levels Internationalists generally advocate a maximum involvement of the US in the international systemIsolationism advocated a much more restrained level of American involvement in the worldSplendid isolationism sought to keep the US entirely separated from the world and especially European politicsNeoisolationism advocated a restricted level of US interaction from the world but not total rejection of the world outside American boundaries Isolationists are also protectionist because protectionism limits international economic interactions
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