comic 5
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- Reduced income. Member countries can no longer earn revenue from tariffs. Threats to intellectual property.
- Free Trade Agreements are extremely important because they include clauses that help countries avoid the worst possible damage that isolationism could do to their own people.
- When imports are freely traded, domestic producers are often able to copy the products and sell them as knock-offs without fear of any legal repercussions.
- Before, countries used to protect their domestic industries against foreign competition. However, international trade has allowed for the formation a unified marketplace that eliminates all trade barriers
- Outsourcing jobs in developing countries can become a trend with a free trade area. Because many countries lack labor protection laws, workers may be forced to work in unhealthy and substandard work environments.
- the share of trade of goods and services in world GDP has increased from43% in 1995 to 60% in 2013. Meanwhile, for the MENA Region, this share expanded from 62% in 1995 to 90% in 2013
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