How to Download Why All Countries Benefit From International Trade RTF
Have you ever felt guilty about buying a foreign-made automobile, appliance, or article of clothing? There are some people in this country who still feel it is unpatriotic to buy foreign-made products. Many people seemed to think that, if only we could prevent the sale of foreign-made products in this country, our unemployment problems would be over. People who think in these terms simply do not understand how the world economy operates. They fail to see that many American jobs are dependent on sales to foreign countries. If we restrict imports to save the jobs of some Americans, we will lose export sales that will cost other American workers their jobs. Furthermore, many of those people who condemn others for buying foreign products are doing the very same thing themselves. It is almost impossible to avoid buying some foreign-made products today. For example, suppose you buy a new small American-brand automobile, and your neighbor buys a new Japanese-brand car. Who is most patriotic, in terms of supporting American workers? It may turn out to be your neighbor. His foreign-brand automobile may have been manufactured in the United States by American workers while your American-brand automobile may have been manufactured in a foreign country by foreign workers. American automobile companies have many manufacturing plants in foreign countries today where they hire foreign workers to produce the cars. At the same time, a number of new plants have been built in the United States by foreign automobile manufacturers who hire American workers. Even if you buy an American-brand automobile that was assembled in the United States, it is very likely that some of the parts used to assemble the car were manufactured in other countries. This 19-page article is a primer on international trade and finance. Every American needs to understand why restricting international trade is not the solution to any of our problems
