International Business continutes to increase inexorably and the World Essay

International Business continutes to increase inexorably and the World Trade plaque supports this by encouraging countries - Essay ExampleAdditionally, the WTO has sought to realize objectives such as global stinting integration and increase in global incomes. However, the WTO spare-time activity to promote free trade has encountered various challenges. These challenges include countries that trade under protectionist policies other countries have refused to open their economies totally. Despite the handicaps, WTO has accomplished some of its objectives. This is because there has been a gradual rise in the global trade (Bradford 2003, p. 30). WTO has sought to enhance free trade by campaigning that nations trade freely. However, it has not accomplished the to a higher place objective. This is because numerous nations have adopted various protectionist policies that have prevented free and dependable trade. Additionally, bodies such as European Union have sought to protect their parcel nations by barring entry of certain comedies to this region. However, the political and trading block has also increased trade among its nations. Protectionism is the key hindrance to free trade in the world. UK has adopted various policies that prevent free trade. Some of the policies entail ample taxation, quotas and total ban. The adoption of such policies by nations has resulted from various reasons. Such reason in the first place relates the saturation of the economy with cheap products that have pricing advantages. Despite the phenomenal trade increases that would occur on the elimination of protectionism, there would be negative economic implications. Countries would lose some of their sectors owing to importation of certain products into their economy (Bradford & Lawrence 2004). There are countries such as China, India and Brazil that produces certain products at lower constitute owing to low expenditure of labour and other inputs. Exporters from such countries wou ld have a competitive edge over most producers globally. Therefore, nations that experience higher greet in the production of similar goods would encounter reduced clientele. The cheap products would floods markets globally. As such, manufacturer in countries such as UK may suffer owing to flood of the economy with such goods. The local industry in these nations would suffer greatly owing to free trade. Conversely, nations producing items at low cost would have a massive competitive advantage over their rivals. This would result in economic prosperity of such nations. Protectionist policies enacted by the UK presidential term seek to protect its producers who are vulnerable to products subsidise by global powerhouses. This has been the key justification for the protectionist policies. Despite the justification by leading nations for enacting such policies, it is evident that they have been the key hindrance to free and fair trade. Leading nations incur higher cost since they pay higher remuneration. As such, their firms incur higher costs. This translates to higher prices. Irrespective of the quality of such product, they can fence with other gods owing to pricing. The above reason is solid for enacting protectionist policies (Chorev 2007, p.45). Free trade would increase entry of goods in all nations. As such, some of the industry would airless down as detailed above since they cannot survive competition on the global front. The closure of these industries would culminate in job losses. One the key concerns of government is unemployment. If the government allows free trade, then there will be substantial job losses. Any government that would