Unfair Competition from Countries without International Labour Laws Term Paper

Unfair Competition from Countries without International Labour Laws - Term Paper Example This research paper examines that there have been arguments for the imposition of free trade among all member countries taking part in international trade.   These have been increasingly believed to be of benefit, especially to the developing countries. To begin with, markets get liberalized from the interference of government. This is important because the government does not have a direct contribution to the prevailing prices in the economy due to actions such as subsidies or even tariffs. The involvement of government in the setting of prices may lead to market failure arising from forced priced that have been set without due regard to the natural forces of demand and supply, which work together to determine the prices of goods and services.  This research paper examines that there have been arguments for the imposition of free trade among all member countries taking part in international trade.   These have been increasingly believed to be of benefit, especially to the deve loping countries. To begin with, markets get liberalized from the interference of government. This is important because the government does not have a direct contribution to the prevailing prices in the economy due to actions such as subsidies or even tariffs. The involvement of government in the setting of prices may lead to market failure arising from forced priced that have been set without due regard to the natural forces of demand and supply, which work together to determine the prices of goods and services.