D310 Chapter 7 Questions.docx - David Wallace D301 Darrell Brown Chapter 7 Questions 1 Do you think governments should consider human rights when

D310 Chapter 7 Questions.docx - David Wallace D301 Darrell...

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David Wallace D301 Darrell Brown Chapter 7 Questions 1. Do you think governments should consider human rights when granting preferential trading Rights to countries? What are the arguments for and against taking such a position? A per a research report published by the United Nations , human rights are usually overlooked in trading arrangements. While a balanced approach is to be taken in ensuring adequate human rights are exercised in trading arrangements, this is not the case mostly. It would be paramount for both the source and destination countries to weigh the human rights exercised at either end before they proceed with any long-term trading arrangement. Advantages of this includes greater transparency regarding human rights being exercised and ensuring wholesome growth for the country (not just in economic terms but in sense of welfare of its workers) Disadvantages would be need for greater scrutiny, arrangements in terms of detailed legal work/paper work as well as periodic audit of the same. This could increase the overhead costs especially in terms of compliance and regulation as well as perceived delays in the trading transactions. 2. Whose interests should be the paramount concern of government trade policy: the interests of producers (businesses and their employees) or those of consumers? Generally government trade policy favors the businesses and its employees while protecting rights of the consumers. A balanced approach is however recommended as follows, especially considering the: Mission and vision of the trade policies Fulfilment of the regulatory requirements & risk/mitigation Cost/Benefit analysis of consumers/individuals and socio-economic parameters
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