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Marketing Concepts Globalization and World Trade

The Concept of Globalization Marketing and World Trade, and to organizations that promote the freer world trade. Such opposition may come in the form of certain government interventions. There are several reasons for such opposition. First, certain occupations and industries need to be protected from foreign competition (Hill, 2004). The United States provided protection to key industries such as automobiles, machine tools and steels in the form of Voluntary Export Restraints (VERs) in the 1980s, which also protected jobs (Hill, 2004). However, such a move is not justified because the price of this product turns out to be higher than the world price by reducing foreign imports, thereby reducing its global competitiveness (Hill, 2004). Another argument related to the opposition is the need to protect the baby industry with the appropriate tariffs, import quotas and subsidies until they are developed enough to compete on the global stage (Hill, 2004). However. read more »

Free Trade

Learn Globalization and Free Trade

Such opposition may come in the form of a specific government intervention. There are several reasons for such opposition. First, certain occupations and industries should be protected from foreign competition (Hill, 2004). United States provides protection to vital industries such as automobile, machine tools and steel in the form of Voluntary Export Restraint (VER) in the 1980s, which protected jobs as well (Hill, 2004). However, these measures are not justified because the price of this product is higher than the world price by reducing imports from abroad, hence diminishing global competitiveness (Hill, 2004). Another argument related to the opposition is the need to protect infant industries with appropriate tariffs, import quotas and subsidies until they have developed enough to compete on the global stage (Hill, 2004). However, such protectionism does not usually make the industry more efficient, with the side effects make them more satisfied. read more »