Trade makes rich nations richer and poor nations poorer.

Question

Quizplus · Accepted Answer

While trade can have uneven effects on different countries or groups within a country, the idea that trade automatically makes rich nations richer and poor nations poorer is a simplistic and outdated view. In reality, some developing countries have experienced significant economic growth through their participation in global trade, while some developed countries have struggled with job losses and other negative consequences of trade. Additionally, trade policies and agreements can impact the distribution of benefits and costs within a given country.

Trade Makes Rich Nations Richer and Poor Nations Poorer