This paper explains that
increased trade between countries does create wealth; however, the rules of the trade game are such that the wealth being generated by increased level of international trade does not reach all sections of the world in a fair manner. The author argues that there is an urgent need for creating a level-playing field for all in international trade so that the benefits reach everyone; organizations such as the WTO and the IMF, which make and oversee trade rules and international monetary policies, must be purged of the pervasive influence of large
multi-national corporations and big business. The paper relates that unprecedented development in the
communication and information technologies in the last few decades and the eclipse of communism have given a great boost to international trade; international trade leads to prosperity and development but such trade also gives rise to a number of problems such as increasing
inequality and
rural poverty. Table of Contents The
pros and Cons of International Trade Reasons Why Increased International Trade is Beneficial Growing International Trade Pros: Benefits of Increased International Trade Growth in Countries that Adopted Free-Trade Policies Example of the United States Cons: The Disadvantages Policies Based on Corporate Interests Removing the Guiding Hand How International Free Trade Policies Favor Big Corporations Corporations Exempt from Free Market Discipline Inequality Rural Poverty Trade and Environment Analysis of the Arguments What Should Be Done? Conclusion