Liberals argue that trade benefits everyone because it helps people concentrate on what they are best at (the formal version of this argument is the theory of ˜comparative advantage'). ... Allowing free trade sends price signals that encourage people to work at what they are best at, a strategy that benefits everyone over the long term. ... For the developing world, "doing what you are best at" in trade may mean providing sweatshop labour so that consumers in Europe can have cheaper trainers or electronic goods. ...

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• Approx Pages: 29
• Grade Level: Graduate