Pros Cons of Free Trade
Pros and Cons of Free Trade
I think Free Trade has its good and it’s bad. A good example is, the Auto industry. Here in Indiana we have a lot of foreign auto manufactures such as Subaru, Toyota, and Honda, just to name a few. As for American there is Chrysler and Ford. This can decrease the value of the
American car, because of all the choices from the foreign market. This could eventually cause a loss of sales and money for the American manufactures, which could cause layoffs and loss of income for their employees in the future.
However, overall the advantages of free trade definitely outweigh the disadvantages, by creating more jobs.
Pro
“Indiana workers need trade to maintain and create jobs. In 2010, 761,500 jobs in Indiana depend on trade. In 2008, 20.5 percent of jobs in Indiana depended on trade, up from 10.0 percent from 1992. Indiana’s trade-related employment grew more than five times faster than total employment from 2004 to 2008.”(Business Roundtable, 2010)
Con
“Free trade is a convenient, well-packaged ideology that resonates well with consumers, and lines the pockets and ambitions of CEO’s and politicians.” (Heffner, Thomas, May 2012) As a result, in Indiana and the US nearly 50 percent of all new cars now sold are foreign.
Unfortunately, because of Free Trade more people think buying an American product is cheap or not good quality. As a result of this the middle-class that rely on an American industry for employment and opportunity is being destroyed and falling further into debt.
References
http://trade.businessroundtable.org/
http://economyincrisis.org/content/why-free-trade-hurts-america
I think Free Trade has its good and it’s bad. A good example is, the Auto industry. Here in Indiana we have a lot of foreign auto manufactures such as Subaru, Toyota, and Honda, just to name a few. As for American there is Chrysler and Ford. This can decrease the value of the
American car, because of all the choices from the foreign market. This could eventually cause a loss of sales and money for the American manufactures, which could cause layoffs and loss of income for their employees in the future.
However, overall the advantages of free trade definitely outweigh the disadvantages, by creating more jobs.
Pro
“Indiana workers need trade to maintain and create jobs. In 2010, 761,500 jobs in Indiana depend on trade. In 2008, 20.5 percent of jobs in Indiana depended on trade, up from 10.0 percent from 1992. Indiana’s trade-related employment grew more than five times faster than total employment from 2004 to 2008.”(Business Roundtable, 2010)
Con
“Free trade is a convenient, well-packaged ideology that resonates well with consumers, and lines the pockets and ambitions of CEO’s and politicians.” (Heffner, Thomas, May 2012) As a result, in Indiana and the US nearly 50 percent of all new cars now sold are foreign.
Unfortunately, because of Free Trade more people think buying an American product is cheap or not good quality. As a result of this the middle-class that rely on an American industry for employment and opportunity is being destroyed and falling further into debt.
References
http://trade.businessroundtable.org/
http://economyincrisis.org/content/why-free-trade-hurts-america
References: http://trade.businessroundtable.org/ http://economyincrisis.org/content/why-free-trade-hurts-america