THERE ARE MANY DISADVANTAGES OF INTERNATIONAL TRADE SOME OF ARE ....
1. Exhaustion of Natural Resources :- It means exhaust all its natural resource in due course of
time.It encourages an underdeveloped country to export its all raw material very early.
2. Dependence :- Import of cheap quality product increases dependence of foreign countries
to the extent which lead that country no productive (I mean their production within the
country stops altogether.
3. Loss to Agricultural Countries :- In INTERNATIONAL TRADE predominantly agricultural
countries are loser to the maximum extent.This is because Demand for agricultural
product is less elastic , there is hardly any increase in their demand despite fall in the
price.
In short, discussion on demerits of International Trade may have academic significant but from practical point of view every of the world endeavours to develop INTERNATIONAL TRADE.
(THIS IS MY POINT OF VIEW IT MAY BE WRONG , BUT THIS IS FIT FOR THIS QUESTION)
1. Exhaustion of Natural Resources :- It means exhaust all its natural resource in due course of
time.It encourages an underdeveloped country to export its all raw material very early.
2. Dependence :- Import of cheap quality product increases dependence of foreign countries
to the extent which lead that country no productive (I mean their production within the
country stops altogether.
3. Loss to Agricultural Countries :- In INTERNATIONAL TRADE predominantly agricultural
countries are loser to the maximum extent.This is because Demand for agricultural
product is less elastic , there is hardly any increase in their demand despite fall in the
price.
In short, discussion on demerits of International Trade may have academic significant but from practical point of view every of the world endeavours to develop INTERNATIONAL TRADE.
(THIS IS MY POINT OF VIEW IT MAY BE WRONG , BUT THIS IS FIT FOR THIS QUESTION)