Limitations of Global Trade
In the previous post I went over three questions I would like to discuss during this research blog. The first question I would like to go over in this blog is what are the current limitations of global trade? To answer this question, I did some research about the current issues with global trade.
What are the current problems with global trade?
The first issue that arose during my research of the topic was that global trade can reduce natural resources that are vital to a countries functions. This can include resources such as oil, agriculture, and water. All these resources are required on a daily basis for a country to operate, and any impact on natural resources could have a catastrophic effect on the local region.
The second issue that came up would be the pollution that comes along with global trade. Pollution can have a major impact from the local ports all the way up to a global scale. Pollution is a major drawback to getting involved with global trade, it can ruin wildlife, natural resources, and the environment. Not to mention the effects it can have on human health.
The third issue would be that global trade also includes an exchange of culture on top of the goods and services that are already being transferred everyday day. Cultures could potentially clash when they encounter each other and instead of having a healthy and cooperative trading partner, you could end up with an enemy.
How could these issues be solved?
These issues that global trade faces can turn countries off from doing business globally. When this happens, everyone loses out since the more trade that happens the more goods and services are available, and when nations refrain from international trade the less products are available. These problems could be solved with future technology, and the way they could be solved will be discussed in a future blog post.
