Argue that those regulations are ethical and necessary to promote a free market?

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We need to support that the regulations that promote a free market are ethical and that they are necessary.

Free market is a scenario where there are no trade barriers in the process of trade between different countries.It is essential to remove the trade barriers as those are kind of inefficiencies.We know that trade between countries promotes prosperity among the trading partners and is a win-win situation for all the involved parties.

Trade should be in such a transparent manner that there is no undue advantage for some over the others.

For Ex: Take the case of China.It follows many unfair practices in trade. It heavily subsidizes some of it's industries like steel,fire crackers etc., as a result of which their products are cheaper leading to higher demand in the international markets.In this manner it causes a lot of damage to the steel and firecracker industries of the countries like India,Pakistan,etc.,Slowly those countries' industries suffer and eventually become un-competitive.

So,free trade should be advocated but with strict regulations so that trade takes place according to the market discovery by the forces and the trade goes on based on absolute (or) competitive advantage and there should not be any artificial pricing by way of subsidizing etc.,

The WTO promotes free and fair trade between countries across the world with the help of it's regulations.All disputes related to trade can be taken to them for resolution.

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Rahul Sunny answered 1 year ago

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