Free trade is an economic concept that the use of product sales across the country without import-export or other trade barriers. Free trade can also definations as the absence of obstacles (barriers that are applied goverment) in trade between the individual and companies who are in different countries.
Free trade will be applied in the United States and will enter the stage will enter the business sector in the American, and will compete with all the foreign business units.
Many ordinary Americans have been suspicious of free trade, seeing it as a destroyer of good-paying jobs. American economists, though, have told a different story.
For them, free trade hass been the great unmitigated good, the force that drives a country to shed unproductive industries, focus on what it does best, and create new, higher-skilled jobs that offer better pay than those that are lost.
This support of free trade by the academic Establishment is a big reason why Presidents, be they Democrat or Rebublican, have for years pursued a free-trade agenda. The experts they consult have always told them that free trade was the best route to ever higher living standards.
But something momentous is happening inside the church of free trade: Doubts are creeping in. We're not talking wholesale, dramitic repudiation of the theory. Economists are, however, noting that their ideas can' explain the disturbing stagnation in income that much of the middle class is experiencing.
They also fear a protectionist backlash unless more is done to help those who are losing out. "Previously, you just had extremists making extravagant claims againts trade," says Gary C. Hufbauer, a senior fellow at the Peterson Institute For International Economics. "Now there are broader questions being raised that would not have been asked 10 or 15 years ago."
So the next President may be consulting on trade with experts who feel a lot less confident of the old certainties than they did just a few years ago. From Alan S. Blinder, a former vice-chairman of the Federal Reserve and member of the Countil of Economic Advisers in the Clinton Administration, to Dartmouth's Matthew J. Slaughter, an international economist who served on President George W. Bush's CEA, many in the profession are reevaluating the impact of globalization. They have studied the growth of low-wage work abroad and seen how high-speed telecommunications make it possible to handle more jobs offshore. Now they fear these factors are more menacing than they first thought.