Regardless of the theoretical approach used in defense of international
trade, the benefits from absolute or comparative advantage
clearly can accrue to any nation. Heightened competitors from
around the world have created increased pressure for protectionism
from every region of the globe at a time when open markets are
needed if world resources are to be developed and utilized in the
most beneficial manner. And although market protection may be
needed in light of certain circumstances and may be beneficial to
national defense or the encouragement of infant industries in developing
nations, the consumer seldom benefits from such protection.
Free international markets help underdeveloped countries become
self-sufficient, and because open markets provide new customers,
most industrialized nations have, since World War II, cooperated in
working toward freer trade. Such trade will always be partially threatened
by various governmental and market barriers that exist or are
created for the protection of local businesses. However, the trend has
been toward freer trade. The changing economic and political realities
are producing unique business structures that continue to protect
certain major industries. The future of open global markets lies with
the controlled and equitable reduction of trade barriers.
