Cryptocurrency Q&A
Who is harmed by free trade?
Who is harmed by free trade?
Raffaele
Sun Sep 01 2024
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6 answers
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Could you elaborate on the potential harm that free trade may inflict on various stakeholders? Are there specific industries or groups of people who are more vulnerable to the negative consequences of free trade? How does the elimination of trade barriers and the promotion of global competition affect local businesses and workers? Additionally, are there any long-term implications that should be considered when assessing the overall impact of free trade on society?
6 answers
CryptoNinja
Tue Sep 03 2024
The opening of a country's borders to free trade can lead to economic disparities and challenges for local industries.
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Michele
Tue Sep 03 2024
Domestic firms may struggle to compete with foreign competitors who have access to cheaper labor and resources.
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DreamlitGlory
Tue Sep 03 2024
This competition can result in the decline of local industries and the loss of jobs for workers.
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CryptoMystic
Mon Sep 02 2024
Furthermore, large-scale industries may relocate to countries with less stringent regulations on environmental and labor practices.
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Alessandra
Mon Sep 02 2024
Such relocations can lead to negative consequences such as child labor and pollution in the host countries.
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