Question

Consider the following statement "we should continue allowing arguments that justify government intervention in trade under the WTO". Do you agree or disagree with this statement? In your answer use examples where appropriate.

Answer 1

It can be mentioned that the given statement is true to a greater extent especially when considering the present day scenario in the whole and this is because of the fact that the ongoing political tensions and issues like dumping etc not be beneficial for the countries and this can create problems like reduction in the growth and huge amount of unemployment it for that particular countries on the whole. That is the reason why with the current existing policies if there are more government interventions then a particular economy can be saved where reduction in unemployment and poverty issues can be addressed on the whole.

One best Example - when you consider the product Steel China has low manufacturing called of Steel as a result of which it is selling Steel to countries like India at a very low price as a result of which the steel industry in India has been deteriorating in India with which India has been suffering on the whole in terms of unemployment and the reduction and contribution of steel industry to the GDP.