CHILD DEVELOPMENT PEDAGOGY

Detailed explanation-1: -Critics of trade liberalization claim that the policy can cost jobs because cheaper goods will flood the nation’s domestic market. Critics also suggest that the goods can be of inferior quality and less safe than competing domestic products that may have undergone more rigorous safety and quality checks.

Detailed explanation-2: -rapid import liberalisation can lead to substantial unemployment and underemployment, as well as dangerous levels of social and economic instability.

Detailed explanation-3: -Due to liberalisation there will be an increased dependence on other nations for forex, technology etc. There will be economic instability as any changes in the currency in foreign markets will result in a significant impact on the economy.

Detailed explanation-4: -Winners and loser of trade liberalization: frictions, rigidities and reforms. rade liberalization brings economic gains to the economy due to efficiency improvements and lower prices. The gains, however, may not be for everybody: export sectors win and import sectors lose. This creates a distributional conflict.