Unfair World Trade

I think that the world trade cycle is unfair and doesn’t give LEDC’s (less economically developed countries e.g. Kenya) to escape the clasp of poverty. This is because LEDC’s import expensive goods and technology from MEDC’s (more economically developed countries e.g USA) and export cheap goods such as bannanas to MEDC’s. This creates a TRADE DEFECIT, hence LEDC’s lose money. On the other hand MEDC’s export expensive goods and import cheap goods, therefore MEDC’s create huge profits and stay rich. The unfair trade cycle keeps rich countries rich and poor countries poor. I think to give poor countries the chance to escape the cycle of poverty they should not be taxed for exporting their goods. What do you think? Raise awareness about inequality.

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One Response to Unfair World Trade

  1. The cycle is built like that. The harsh truth about capitalism is that the poor countries are just meant to feed the richer countries. This whole cycle was created by the empire building of the french and the british. The colonies would supply raw materials to the home counries who would then produce higher valued goods and sell them back to the colonies making the rich richer and the poor poorer. MEDC’s will never agree to not tax LEDC’s just as a business will never give discounts to poorer people. It is business and that’s how the evil world of money works.

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