Arguments against free trade
- Suffocates development of local industries from over competition of established international firms
- Encourages dumping
- It increases external economic dependence on MDCs
- May worsen balance of payment when importation exceeds exportation.
- Leads to importation of undesirable goods such as tobacco and drugs
- May cause unemployment due to closure of local industries and outsourcing of labour
- Leads to over exploitation of resources
- Leads to erosion of culture
CATEGORIES Economics
TAGS Dr. Bbosa Science
