Unrestricted trade presents danger to the global economy, the well-being of people globally, and underdeveloped countries. The recent recall of toys has caught the attention of many, due to small children being exposed to paint from toys imported from China. It has become very clear that unrestricted trade has become hazardous to the health of children and adults worldwide. The bad publicity of toy recalls has affected the entire toy industry, not just a single company because all parents see this as a huge red flag. While many feel that unrestricted trading benefits underdeveloped countries, there is no guarantee because it depends if the goods are appealing to other countries.
Year after year, many recalls are made from imported and domestically produced goods, which prove tighter regulations, should be made to protect countries from goods that can be potentially hazardous to their health. In the news media recalls have recently been made of “Thomas the Train” toys, these goods are produced in China and have become a staple in many American households. The recall was due to lead being found in the paint of all products. This story is one of many that has come along, there was also a recall of baby bibs that are lined with plastic, these items have also exposed children to a toxin. With millions of recalls being made for baby items to notebook memory cards, this clearly demonstrates this system presents many vulnerabilities to society, and changes must be made for civilization to continue to thrive.
Many people argue that developing countries benefit from unrestricted trade; poor countries actually suffer more in the end. Geographically, many of these countries do not have natural resources such as oil, water, and fertile soil that are high in demand which would allow them to be competitive in international market. A trade only works out for both parties when it is something that can benefit them both. Unfortunately in undeveloped countries, many goods are produced domestically which is an exhausting process. Producing a large number of goods leads to inefficient production, and the country will not have a reputation for specialization. Countries that have adequate goods for trading face significant competition on the global market front. Other governments may feel uncomfortable trading with certain countries due to preconceived ideas.
“Reliance on foreign suppliers may be considered unacceptable when it comes to industries with a significant role in national security. For example, many governments are determined to ensure the so-called food security of their countries in case food imports are cut off during a war.” (Soubbotina, 2007)
Unrestricted trade has proven to be dangerous for the global economy, it is vital that stricter regulations are enforced in order to ensure safety of people worldwide. Undeveloped countries can not provide many quality items for trading due to lack of specialization, strict quality control standards should be enforced to protect consumers. Unrestricted trading would allow some poor quality items to get through the system. Unfortunately, poor quality items have already reached many consumers and put young children at risk. If stricter standards were imposed, many incidents could have been prevented. Many industries suffer when a company or a particular country is associated with a recall, in a consumers mind it is not just an isolated incident, they become wary of the quality of all goods.
References
International Trade-Support in Principle. (2006). Retrieved September 10, 2007, from Americans & the World: http://www.americans-world.org/digest/global_issues/intertrade/support_trade.cfm
Silkett, T. (2007). Unrestricted Trade. Phoenix: Axia College.
Soubbotina, T. (2000, October). World Bank. Retrieved September 10, 2007, from Beyond Economic Growth : http://www.worldbank.org/depweb/beyond/global/chapter12.html
