Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

The importance of trade continues to be a debated topic because the gains are not always quantifiable by those involved. Some would argue that due to a significant difference in wages and regulations, free trade is not always fair trade and that free trade agreements are used by companies to simply chase lower wages and fewer regulations. In the United States, this has been an ongoing debate in regard to both the North American Free Trade Agreement (NAFTA) and the normalized trade relationship with China. Take some time to read the following articles before beginning your post:

• Free Trade vs. Fair Trade
• U.S. Trade Strategy: Free Versus Fair

Based on what you have read, please address the following questions:

• Which do you feel is a better approach, free or fair trade, and why?
• Given the concept of comparative advantage, should we even be discussing free versus fair trade?

Answer preview

Given the impact of globalization on trade dynamics, the importance of commerce in sustaining economies cannot be understated. The extensive chain of purchase and supply of goods across the world ensure more availability of products and facilitates access to higher quality at fairer prices. However, trade is not a straightforward issue because of contradictory positions on the best approach to trading…