International Trade & Wealth (Pt. 4)

International Trade & Wealth (Pt. 4)

There are winners and losers in international trade. In the developed world the consumers are big winners. The unskilled factory or technical worker are the big losers. In what is euphemistically called the developing world, all but a few of the people are big losers. This is why trade is often viewed negatively in these countries.

I am referring to the countries that survive off of commodities. Government officials make dishonest deals with big companies to sell the countries birthright (the minerals and resources). Foreign worker are brought in for the well paying jobs. The wealth of the country is exploited and the people of the country get nothing except a few low paying service jobs.

If the money from the sale of the resources was used to fund educational or social programs or develop local industry, everyone could be a winner. Unfortunately, most of the money goes to fund foreign bank accounts. The cycle of poverty continues. There are other instances where excellent resource management benefits everyone.


David Segrest is a REALTOR in Charlotte NC. His website is http:www.segrestrealty.com .