Ch 5 Global Trade [AP & Reg]


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Unformatted text preview: oat and America has the money. America is more wealthy because it has both the coat and the money. Abe Lincoln Counterpoint: Money is not wealth in and of itself, it merely facilitates trade. If America sends dollars to England, England will eventually use those dollars to buy American goods. If we don’t buy goods from other countries, then other countries will not be able to buy goods from us. Point: Protecting businesses from Point: foreign competition preserves American jobs. Counterpoint: Few are helped by protective policies, but they are more visible and more vocal than the many who are hurt. Protecting jobs in import competing industries raising prices to consumers and costs jobs in industries that use imported inputs. America and consumers pay dearly each time protectionist measures “save” jobs. Point: Protecting American businesses from foreign competition does potentially preserve American jobs. 1. Restrictions on imported steel in the 80s saved 17,000 jobs in the steel indust...
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This note was uploaded on 07/20/2012 for the course ECON 2106 at GCSU.

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