Question

What has trade liberalization led to since the 80s? A. Increased global economic growth and interconnectedness.

B. Decline in international trade and economic isolation.
C. Rise in unemployment and economic instability.
D. Expansion of trade barriers and protectionism.

Answer 1

Since the 80s, trade liberalization has led to increased global economic growth and interconnectedness. However, it has also caused some negative consequences, such as unemployment in certain industries.

Step-by-step explanation:

Since the 80s, trade liberalization has led to increased global economic growth and interconnectedness.

This is due to the reduction of government-created barriers to trade, such as tariffs and import quotas, and advancements in transportation, communication, and information management.

The result has been a powerful surge in international trade, with production costs decreasing and trade volumes increasing.

However, it is important to note that trade liberalization has also led to some negative consequences. In certain industries facing increased international competition, factories have closed down, causing unemployment.

When faced with fierce international competition, entire industry sectors can struggle, leading to more factory closures and higher unemployment rates.