It is because of these concepts that the world powers have been able to reap the benefits of cheap labour
LAHORE: Global powers owe their development and hegemony to the idea of international trade and globalisation. It is because of these concepts that the world powers have been able to reap the benefits of cheap labour and an abundance of natural resources in poor countries upon which they have erected their empires.
However, the US with its recent ‘America First’ policy is likely to reverse the process of its development and lose the potential benefits of international trade to other countries.
Mohammad Akram
Published in The Express Tribune, March 6th, 2018.
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