As outsourcing has grown in the last 10 years due to the advancements of Technology, the U.S. has had to enforce rigorous sanctions on its trade policy. For example, according to the Wikipedia article “Economic Sanctions,” “in 2002 the United States placed import tariffs on steel in an effort to protect its industry from foreign producers, such as China…” (1).
Furthermore, these sanctions have been the main component in creating tension between the import and export industry, domestic and international, because this method of sanction has jeopardized the quality of manufacturing and production of some countries, including the United States and England. The advantage of the US having Economic sanctions generates from the fact, that the US economy is able to remain stable from the greater employment which is applied in its industries, and creating more labor force and capital flow. The disadvantage is the trade wars, and its decrease of economical welfare.
The definition of Trade Wars is best realized from the author Henry C.K. Liu, in The Coming Trade War, “Economists believe trade wars are very non-productive… and decreases the total social surplus involved” (15).
Furthermore, the main hazard of the U.S. enforcing sanctions in its trade industry is best understood from the point of view of Financial Officers, because of the fact, that these employees are able to prove that capital of goods could be saved and used at a faster and more productive rate; for example, the cost of labor in China is much lower, when compared to the cost of labor in the U.S., therefore a corporation is able to save and produce goods which could be used for the consumer, and most importantly, corporations are able to keep up with the demand of the consumer. This is the most important aspect in utilizing foreign trade, and the disadvantage of the U.S. enforcing these economic sanctions.
The Dissertation on The Efficacy of Trade Union in Settling Labor Disputes
1.0.INTRODUCTION. This paper aims at examining the efficacy of trade unions in settling labour disputes in Tanzania: Law and Practice. The establishment of trade unions is to administer workers’ welfare, but ever since workers go on swimming on conflicting interest with their employers in vain. A trade union for an average person signifies the association of workers that is engaged in securing ...
Utilizing resources outside the U.S., especially in developing countries have two advantages: U.S. industries are able to keep up with consumer demand, and the second advantage being the dramatic decrease of the cost of labor. According to the article in Wikipedia, “The United States has imposed economic sanctions on Iran for years, stating Iran’s ‘state sponsor of terrorism’ as its main reason.” These economic sanctions which have recently begun its development in the Middle East, serve a different agenda for the U.S., as oppose to alleviating the inflation rate of its economy or reinstating the concept of a country governed by its own growth, without the influence of foreign policies or politics. Furthermore, these sanctions for Iran, have given U.S. citizens some peace of mind on terrorism, and especially the division of its Homeland Security.
Ultimately, the cost and benefits of the U.S. Economic Sanctions are a complex subject. There is no one solution which may help in understanding its profile; though one thing is for certain, economic sanctions enable a country to invest its manufacturing and production industry in its own economy, creating a positive trend of national labor.
Works Cited
Economic Sanctions. 11 November, 2007. Wikipedia.
Henry C.K. Liu. The Coming Trade War. New Jersey:
Prentice Hall, 2005.
