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  • Filipino Nationalism

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    Kaia Domingo
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    Free trade agreements reduce tariffs and address other trade barriers to encourage the flow of goods and services. However, they can potentially diminish economic welfare if not set up correctly, and may not be effective for liberalizing sectors influenced by non-parties. While free trade between developed and developing countries is controversial, critics argue it can exploit foreign labor and environments when corporations move operations solely for cheaper labor.

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    Free trade agreements reduce tariffs and address other trade barriers to encourage the flow of goods and services. However, they can potentially diminish economic welfare if not set up correctly, and may not be effective for liberalizing sectors influenced by non-parties. While free trade between developed and developing countries is controversial, critics argue it can exploit foreign labor and environments when corporations move operations solely for cheaper labor.

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    13 views1 page

    Filipino Nationalism

    Uploaded by

    Kaia Domingo
    Free trade agreements reduce tariffs and address other trade barriers to encourage the flow of goods and services. However, they can potentially diminish economic welfare if not set up correctly, and may not be effective for liberalizing sectors influenced by non-parties. While free trade between developed and developing countries is controversial, critics argue it can exploit foreign labor and environments when corporations move operations solely for cheaper labor.

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    © All Rights Reserved
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    The Free Trade advantages and disadvantages.

    Free trade agreements don't just reduce and


    eliminate tariffs, they also help address behind the border barriers that would otherwise impede the
    flow of good services, encourage, investment and improve the rules affecting such issues as
    intellectual property. disadvantages are twofold. If FTAs are not set up within the right framework
    of policies, they can diminish rather than enhance economic welfare. The second disadvantage is
    that they are not good vehicles for liberalising trade in sectors on which parties outside the
    agreement have a major influence. Trade between developed and less-developed countries has been
    the subject of great controversy. Critics cite exploitation of foreign labour and of the environment
    and the abandonment or native labour needs as multinational corporations from developed
    countries transport business to countries with cheaper labour pools and relatively little economic or
    political clout.

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