Global Politcal economy - To what extent can free trade be viewed as Essay

Global Politcal economy - To what extent can free trade be viewed as beneficial to economic development Use specific examples to support your answer - Essay Example World Trade Organizations (WTO) , European Commission, US Trade Representative and Fronning, 2005 are all conclusive that countries derive benefits. Free trade encourages growth and jobs since lowering trade barriers is good for employment. However, it is noted that as trade expands ,some jobs are lost because of technology and competition from imports. In terms of job creation, EU Commission calculates that the creation of its single market meant 300,000 to 900,000 jobs to be created. Job prospects are enhanced in companies involved in trade. WTO reports 12 million people in the United States owe their jobs to exports; 1.3 million well paying jobs were created between 1994 and 1998. In Mexico, best jobs are those related to export activities, workers of sectors that export 60 percent of its production or more are paid 39% higher than the rest in the economy and those working in in-bond assembly plants are paid 3.5 times the Mexican minimum wage. Free trade brings competence in the system. It helps cut costs because of rules involved. For instance, when there is no free trade, different tariffs and duties are imposed; and if you were an importer of parts for your own production, it would be difficult to calculate different tariff rates charged on imports, thus buying would be very difficult. So in this aspect, free trade brings simplification and standardization of procedures, transparency, and increased certainty on trading conditions. Free trade discourages lobbying in the sense that governments are protected from lobbying of interest groups. For instance when a pressure group asks for protectionism, government can safely reject it on the basis of free trade agreements. Free trade encourages good governance since the rule reduces opportunities for corruption. Take for example quota system as a trade barrier. The quota system is the allocation of a specific amount for import or export. This system is prone to corruption because it

Is There Enough Food to Go Around Essay Example | Topics and Well Written Essays - 250 words

Is There Enough Food to Go Around - Essay Example Abundance best describes the quantity of food supply in the world today. The rate of food production has increased tremendously (Einarsson, n. pag). Despite having enough food for everybody on earth, unfortunately, some people still go hungry. This is extremely shocking more so in the developing countries where hunger is being experienced in the face of ample amount of food. It is noted that even the countries that are considered the most devastated by hunger do have enough for all its citizens. If these countries export more of their agricultural products than they do import, then they end up suffering from food insecurity (www.whale.to). The world today has demonstrated over-reliance on corn as a source of calories. Corns are used in preparing almost every single diet in the menu. Additionally, it has proved to be the most productive crop across the world. Its seeds are edible while its stalks are detrimental in generation of biogas, feeding animals and manures. This simply tells us that we cannot do without it in everyday part of our lives. Therefore, corn meals become part of daily human diet. The overdependence on this crop has led to the development of genetically modified corn to speed up the production so that it can match the demands globally. Genetically modified products are associated with health problems hence corns that are modified are not good for human health if over consumed. With increased production, the environment becomes over utilized leading to nutrient depletion in the soil (Misselhorn et al.,