Concerns Related to International Trade
Undertaking international trade can benefit nations by promoting regional specialization, increasing production levels, raising standards of living, enhancing the availability of goods and services worldwide, equalizing prices and wages, and fostering the exchange of knowledge and culture.
However, international trade can also have negative consequences, such as fostering dependence on other countries, uneven development levels, exploitation, and commercial rivalries that may escalate into conflicts. Global trade affects various aspects of life, including the environment, health, and well-being. Increased trade activity can lead to the rapid depletion of natural resources, such as marine life and forests, as well as environmental degradation.
Multinational corporations, particularly those in industries like oil, gas, mining, pharmaceuticals, and agribusiness, may prioritize profit-making over sustainable development, resulting in pollution and environmental harm. Failure to address environmental and health concerns in pursuit of profit could have serious implications in the future.
Chapter 8 International Trade| Class 12 Geography Notes
Class 12 Geography Notes: International Trade is an important topic in CBSE Class 12 Geography. These notes are created by subject experts to help students understand the topic easily. These notes cover important concepts like the significance of international trade, different types of trade, and concerns related to it.
With these notes, students can prepare well for their exams and improve their understanding of the subject.
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