There has been a backlash against “free trade” in the caribbean and some commentators have pointed to the rise in ‘nationalism” and ‘populism’ in many countries.
Is free trade fair?
‘where you stand, depends on where you sit’, what is your opinion here, has it ‘benefitted’ all caribbean island economy?
‘Is free trade fair?’
The free trade is fair and the reasons are given below:
- The variety of goods can be increased and sold in the island.
- The tariffs can benefit the island, as that increase the economic development.
- The revenue are raised towards the demand of the good through free trade.
- There is no quantitative restrictions on free trade as that benefits on the licensing of trade.
‘Where you stand, depends on where you sit’
According to my opinion the above statement has benefitted all Caribbean island economy due to the following reasons:
- The natural resource of the island had helped towards the growth of the individual and the country, as the island is rich in natural resources and had increased job opportunities to the people surviving in the island.
- Agriculture had played a major role for employment in the island as that benefits the people in the island.
- The island had a good economic and political development so that people had survived in their region without any issues on the employment as that benefit the people in the island as well the government.