Mendoza, Airah D

1EDFIL2D

ACTIVITY #4 (Contemporary World)

As a result of the agreements and rules that are in place between nations, the Global Interstate System
makes international trade more efficient and cost-effective, which in turn makes it simpler to import and
export goods. Do you I think that the Global interstate system was affected by the covid 19 pandemic?
For me, Yes I think that the Global interstate system was affected by the covid 19 pandemic, why?
because From school closures to devastated industries and millions of jobs lost the social and economic
costs of the pandemic are many and varied. Covid-19 is threatening to widen inequalities everywhere,
undermine progress on global poverty and clean energy, and more. Example of the Free Trade the Import
and Export of good services.

What do you think are the advantages of free trade entered by our country? Free trade agreements have
the potential to compel domestic businesses to become more competitive and less reliant on government
subsidies. They have the potential to enter new markets, raise the gross domestic product (GDP), and
attract further investments. Free trade agreements (FTAs) can expose a nation to risks such as the
deterioration of its natural resources, the loss of traditional ways of life, and problems with local
employment.

Differentiate multilateral agreements from bilateral agreements and import goods from export goods, A
multilateral treaty is a treaty involving more than two parties, while a bilateral treaty involves an
agreement between two parties. Since import transactions entail payments to sellers who are located in
another nation, there is a net outflow of funds from the country as a result of imports. The production of
commodities and provision of services inside a nation that are afterwards offered for sale to consumers
located in other nations constitutes exports.

Do you think “FREE TRADE” is really free? I believe so, since under a free trade policy, people can buy
and sell goods and services across international borders with few or no restrictions from the government,
such as tariffs, quotas, subsidies, or bans. Trade protectionism and economic isolationism are the
opposites of the idea of free trade.