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International Business
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Article 1 International Trade: Globalization vs. Protectionism In this article, Alan Greenspan articulates that increased world competition created by globalization has created higher standards of living for nearly all countries involved. He claims that advances in technology directly impact globalization by bringing down costs, reducing barriers to world markets, and promoting deregulation initiatives. The article focuses on the concern that while advanced technology brings about positive economic results through increased competition, the fear of change often undermines the process. Greenspan states that “economic progress rests on competition” and placing barriers on free trade is not an effective method to preventing competition. I agree that trade policy should not be linked to job creation and job skill training and retraining create competitive markets effectively. As Greenspan eludes, trying to protect markets from enhanced technology never works and slows overall economic growth.
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Paper Information
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Title: International Business
Words: 664
Rating: None
Pages: 2.7
submitted by: kxmarza
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