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I will pay for the following article Free vs Fair Trade for Reduction of Poverty. The work is to be 6 pages with three to five sources, with in-text citations and a reference page.
I will pay for the following article Free vs Fair Trade for Reduction of Poverty. The work is to be 6 pages with three to five sources, with in-text citations and a reference page. According to Oluwatuyi (2004), economic freedom is a pathway for poverty eradication and the starting point for building a prosperous country. Trade between rich and poor countries tends to favour the former as they export more than they import from the poor countries causing an unfair balance in trade. .Tupy (2005) argues that over-emphasis is placed on the proclamation about the benefits the world would get if free trade were to be adopted by developed world.
Free trade is a structure of trade policy that enables traders to operate and transact without government interference. Free trade, according to the comparative advantage law, allows trading partners to mutually gain from the trade (World Trade Organization, 2009). Free trade policy demands that prices are to be not only true reflections of the actual demand and supply but the factors upon which resource allocation is determined as well. This is what makes free trade unique from the other trade policies that allow allocation of resources to be based on artificial prices.
These artificial prices, in most cases, are far from the true reflection of the nature of demand and supply since they are protectionist trade policies that are utilized by governments to interfere with markets. These interferences could come in the form of supply restrictions and price adjustments.
The Sub-Saharan region in Africa happens and still continues to be among the most protectionist regions around the globe (Tupy, 2005). In the period of 1983-2003, rich countries cut down their mean applied tariffs by more than 80 percent. This is a gigantic value compared with the meagre 20 percent reduction by the countries in sub-Sahara Africa.
Ironically, African countries are the most vocal in calling for greater access to world markets while at the same time restricting free trade in their home countries. This domestic protectionism makes it harder to fight poverty.
