Name: Jhanber Clint R. Clemente Date: Nov.

03, 2023
Yr. & Sec: BSBA HRM 2-2 Prof: Maria Soledad M. Lising

THE DECEPTIVE PROMISE OF FREE TRADE

(Reaction Paper)

The current state of global trade is the most chaotic it has ever been. In the context of the G7
Summit in Canada, some of the most significant trade problems of our day are being debated,
including: Is free trade truly free and fair? What roles do the two economic heavyweights,
China and the EU, play in this constantly changing dynamic? But, out of sight from the public,
lying, threats, and cunning have also grown routine. Is it time to rethink free trade from the
ground up from a liberal perspective? Given this, the documentary travels around Germany,
Switzerland, the US, and Cameroon to investigate who has actually profited and suffered from
globalization through a variety of real-world scenarios. The movie presents a novel viewpoint
on how the promises of wealth from free commerce, from the trade in onions to bicycles, seems
increasingly hollow to average people worldwide.

The term "free trade" will be thrown around a lot in economics and international business
classes. As is common knowledge, free commerce suggests that there are no governmental
regulations prohibiting the import or export of goods or services. Unrestricted import and
export of commodities and services between countries is known as free trade. It is characterized
as a trading strategy intended to stave off foreign competition and is the exact opposite of
protectionism. This unrestricted trade is the major subject of the documentary. The
documentary "The deceptive promise of free trade," produced by DW, explores the principles
of free trade and evaluates its veracity as a fair and unrestricted system. The film discusses the
roles played in international trade by the US President Donald Trump, China, and the EU. In
reaction to Trump's protective tariffs, the documentary emphasizes the drawbacks of
globalization and free trade. It asserts that the majority of free trade agreements cause crises
and are unjust to one party. The filmmakers argue that the primary goal of free trade is to
provide wealthier nations with low-cost access to resources in developing ones.

The documentary concentrated on the ways that tariffs impact different parts of the world. This
DVD offers a historical perspective on the formation of this arrangement, which is quite
informative. One terrible aspect of the concept was the brief mention of the number of refugees
fleeing their homes to 'access' the marketplaces of Europe. Furthermore, the significant wealth
disparity in ownership is the direct cause of the former. Rich countries like Switzerland and
Germany routinely levy tariffs, or taxes on imports, to drive up the price of goods and protect
domestic jobs. Given that China has some of the most productive facilities in the world for
making bicycles at the lowest feasible cost, Germany has slapped a levy on bikes imported
from China in order to protect the German bike manufacturing industry. This also applies to
bicycles made in countries that border China, such as Cambodia, where cheap parts from China
enable bike manufacturers to produce their goods almost as cheaply. These import duties enable
Chinese bike manufacturers to remain in business; nevertheless, even though they assemble
the parts in Germany, they still import all of the parts from China, and import taxes apply to
the completed bikes. Conversely, the United States, which has never levied taxes on bicycles
manufactured in China, has seen every American bicycle manufacturer go bankrupt. Another
nation that uses tariffs to protect domestic producers is Switzerland, which has the highest
wages in all of Europe. Because salaries in other countries are significantly cheaper than in
Switzerland, food production would not be feasible without import duties. Nonetheless, food
is still produced in Switzerland due to protective tariffs on specific goods. They can grow
several times from their low point for most of the year at harvest time, for example, because
they are adaptable. It is evident that protective nationalist policies are highly favored by
producers in Germany and Switzerland. saying they're good for jobs and the environment

In conclusion to that the current state of global trade is chaotic, with debates surrounding the
fairness of free trade and the roles of economic heavyweights like China and the EU. The
documentary "The deceptive promise of free trade" explores the principles of free trade and
evaluates its veracity as a fair and unrestricted system. It discusses the roles played by US
President Donald Trump, China, and the EU in international trade. The documentary
emphasizes the drawbacks of globalization and free trade, arguing that most free trade
agreements cause crises and are unjust to one party. Tariffs impact different parts of the world,
with rich countries like Switzerland and Germany levying taxes on imports to drive up prices
and protect domestic jobs. For example, Germany imposes a levy on bikes imported from
China to protect the German bike manufacturing industry, while the US has seen every
American bicycle manufacturer go bankrupt. Switzerland also uses tariffs to protect domestic
producers, despite having the highest wages in Europe. Protective nationalist policies are
highly favored by producers in Germany and Switzerland, claiming they are good for jobs and
the environment.