Many proponents of globalization claim "Trade is a win-win situation for all countries that participate." This statement is
A)false since it ignores the workers who lose their jobs as result of international trade.
B)false since not all countries participate in international trade.
C)true because it refers to countries; individuals may be losers as a result of international trade.
D)true because all consumers and workers benefit from international trade.

Question

Quizplus · Accepted Answer

While individuals may be negatively impacted by international trade, the statement is referring to countries as a whole. In general, international trade can benefit all participating countries by creating a more efficient allocation of resources and increasing overall economic growth. However, this does not mean that all individuals within those countries will benefit equally or that there won't be some negative consequences, such as job losses in certain industries.

Many Proponents of Globalization Claim "Trade Is a Win-Win Situation