Benefits of Unrestricted Trade

Unrestricted international trade is vital to for the global economic growth, and the benefits are endless. Trading allows producers of goods to gain access to larger international markets. In turn, increased access allows countries to benefit from the international division of labor. Trading allows domestic producers of goods to increase efficiency due to the competition they face in the global marketplace. Trading allows countries to develop peaceful relations, and learn from one another, many under developed countries benefit from technological spill overs because of the exposure to international goods.

Many countries become known for specializing in the production of certain goods through exposure of an international market. Specialization leads to an increased rate of efficiency, the rate of trade depends on the country's specialization. Some of the goods that are traded are natural resources due to the country's geographic location. The country's geographic location can help or hinder the rate of trade. Country's that produce a high rate of domestic goods trades significantly less due to a reduced rate in efficiency.

The diversity of the international market gives many underdeveloped countries an opportunity to catch up. Underdeveloped countries have been isolated from the international market due to lack of exposure to technology. These countries missed out on trading these opportunities due to isolation that was political imposed. Today, many countries are becoming more efficient due to technological spill overs, which allows them to gain knowledge of production of goods that are produced domestically in other parts of the world. This has allowed countries that never had the opportunity in the past to become competitive on a global scale.

The impact of unrestricted international trade has benefited many countries, by offering even some of the richest countries in the world new opportunities. Trading has encouraged international relations, and at the same time the global economy has benefited. Better products are offered in countries due to trade agreements. Consumers want the best products and trading has given consumers an opportunity to buy quality. Consumers also want to be offered a variety, countries can offer products that are offered domestically as well as imported goods. "Freer trade leads to better products becoming available in America." (Americans and the World Digest, 2006)

References
International Trade-Support in Principle. (2006). Retrieved 9 10, 2007, from Americans & the World: http://www.americans-world.org/digest/global_issues/intertrade/support_trade.cfm

Soubbotina, T. (2000, October). World Bank. Retrieved September 10, 2007, from Beyond Economic Growth : http://www.worldbank.org/depweb/beyond/global/chapter12.html