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What are the demerits of international trade? Describe any five points.?
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What are the demerits of international trade? Describe any five points...
There are several demerits or drawbacks of international trade:
Inequality: International trade can often lead to inequality between countries and within countries. Developed countries tend to have an advantage over developing countries in terms of technology, capital, and infrastructure, which can lead to a trade imbalance. This can result in developing countries being unable to compete with developed countries, leading to a loss of jobs and income for their citizens.

Cultural imperialism: International trade can also lead to cultural imperialism, where the dominant culture of the trading partners influences the culture of the other country. This can lead to the loss of local cultural traditions and practices.

Environmental degradation: International trade can contribute to environmental degradation through the transportation of goods over long distances, which can lead to increased greenhouse gas emissions and other forms of pollution.

Exploitation: International trade can also lead to exploitation, particularly in cases where developing countries are involved. Companies based in developed countries may take advantage of lower labor costs and lax environmental regulations in developing countries to produce goods at a lower cost.

Dependency: International trade can also create dependency on foreign markets and foreign sources of goods and services. This can make a country vulnerable to economic and political changes in those markets, which can have negative impacts on the domestic economy.

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What are the demerits of international trade? Describe any five points.?
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