INVISIBLE WEAPON: THE IMPACT OF TRADE POLICIES IN OUR MODERN WORLD

Abstrakti

In today’s dynamic world, the role of economics is significant. Using economic policies and tools, governments of countries are having diplomatic relations and trades that will consider both of the sides’ interests. This has several positive impacts on the world community, as it would stimulate a sense of togetherness and will create a path for a more peaceful world. Although it seems to be a clear benefit for the whole world, it still has some adverse impact on the world as a whole. These trade-related policies are being implemented in a political sphere as well in order to have dominance and superiority over other countries.The reason for this is that these tools of trade-policies can serve as a strong weapon for a country against other countries who they fight with to be a global leader. But in most cases, these protectionist policies, the set of policies used to prevent domestic industries from foreign competition, and trade policies will fail to aim for both of the parties’ benefits. Therefore, it is a topic that the global community has to concern with.