Advantages of Global Free Trade:

1. Free trade can lead to lower prices for consumers, as competition between
businesses drives down prices.
2. Free trade can lead to increased economic growth, as businesses are able to sell
more goods and services, create jobs, and generate wealth.
3. Free trade can provide businesses with access to new technology and expertise,
which can help them improve their operations and expand their offerings.
4. Free trade can improve international relations by promoting cooperation and
collaboration between countries.
5. Free trade can lead to a wider variety of goods and services being available to
consumers, giving them more choices.
Disadvantages of Global Free Trade:
1. Free trade can lead to an unequal distribution of benefits, with some countries
and businesses benefiting more than others.
2. Free trade can lead to the loss of domestic industries, as businesses are unable
to compete with cheaper imports.
3. trade can lead to cultural homogenization, as imported goods and services can
displace traditional cultural practices and products.
4. Free trade can lead to dependence on foreign markets, making countries
vulnerable to economic shocks and instability.
5. Free trade agreements can lead to environmental concerns, as businesses
may prioritize profits over environmental sustainability.
“Global economic integration has done more harm than good.” It doesn’t do more
harm than good, in fact, most of the development of third world countries happened due
to the global free trade system. We can classify these benefits in three, economical,
security, and technology. For an instance, technology wise, newly developing markets
can attract investors as long as a quality of the product or promised feature emerged
successfully, making the business more profitable than not as a result of conglomerates
eating out competition, this is due to the access to new technology, acting as a
byproduct of regional integration through free trade, as a result of mutual access to
emerging technologies. Also, emerging technologies also helped in reducing carbon
emission, which is a primary agent for environment degradation, which outweighs some
bad things about the free trade. Also, an increase in technological advancement within
the region of free market makes cuts production costs, which in turn makes better
products. Although considering the fact that the local market becomes obsolete and can
mostly get homogenized, it far outweighs these disadvantages as the region in a holistic
sense gains more benefits, these challenges are preventable or mitigatable if
governments can support and fund their local markets at which most of the times is not
the case. Now, in an economic sense, free trade prioritizes efficiency of allocation and
supply chains being readily accessible, making economic growth within the free trade
zones just a matter of time before blooming. This has a problem too, and it is the largest
problem in participating in a globalized manner, where unequal distribution of wealth is
observed. Personally, the best way to deal with this is that a country ideally should
have perks and great local economic and political strength so that they are not easily
exploitable in this repetitive occurrence in a global scale. Lastly, regional stability in a
free-market zone can also be observed, as it enables mutual understanding over
cultural exchange and ideas, as well as improving the standard of living by leaps and
bounds as it makes the flow of goods easier and much more accessible for their
respective citizens.