You know what I love about trade, how open, honest,and most of all it's continuity. Every single person in the world today engages In one form of trade with or without realizing it.
Trade is so imminent that even the men of the stone age involved theirselves in it in order to survive, and carryout their daily activities. The system of trade they engaged in back then is known as 'barter' which was simply the direct exchange of goods and services.
In this article, I will be working you through the three benefits of trade and globalisation, in order to make you aware of the importance and benefits of globalised trade in a country.
Trade had so many amazing benefits, add it up with globalisation and there are even more benefits that are attributed to an entire nation. Due to the incredible amount of income generated by the nation, the quality of life and general wellbeing of the country will greatly improve because of trade and globalisation.
What it means for trade to be globalized, is simply two or more countries exchanging resources or services for money. This broadens the scope and potential of each of the countries participating in trade.
THE THREE BENEFITS OF TRADE INCLUDE;
Larger incomes for the country
Freedom/ liberty to express ones civil rights
Improving the quality of life of the citizens
Larger income rate for the country
A larger income stream for the nation means reduced poverty, a steady and happy life for it's citizens and most of all, reduced crime rate leading to a peaceful and Seren environment. Countries like china and south Asia have greatly benefitted from global trade taking nearly a billion people out of porverty. This goes to show the significance and importance of trade and globalisation.
Freedom/ liberty to express ones civil rights
"Perhaps the attributes that support trade- including liberal values such as the respect for others rights, toleration, peace, the rule of law, free economy and a free society - are the main drivers"
(Butler 2013)
Trade is directly associated with the prosperity and growth of a nation. Such developments also help to improve the justice system in a country. This propagates a free'er society with the rights of the citizens adequately maintained.
Improving the quality of life of the citizens
As explained earlier, trade has a role in the prosperity and growth of a nation. It helps improve the quality of life of it's citizens. Simply put, wealthier countries invest more on social amenities like good roads, proper drainages and so much more. It also helps in improving the quality of education, healthcare and security. All these benefits are derived from new practices and ideas that come from outside the country.
Trade also gives it's citizens a larger option of products to choose from, therefore increasing their value, choice and quality of life.
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