[ad_1]
International trade is the glue that connects economies.
Networks of relationships across borders give us access to goods, services, and cultures from around the world. Without international trade, the world would be more expensive, goods and services would often be of lower quality, and Americans would likely never have heard of BTS or Bad Bunny.
In theory, when two parties trade, both parties benefit. Both parties get something that they would not otherwise have, would not have as much, or could not afford. Trade allows countries to specialize and then exchange so that everyone benefits.
But it also means that any particular worker may be underpaid by workers elsewhere offering lower wages. Globalized production seeks low costs.
This week, we had the opportunity to see trade through the eyes of some of the workers most affected by trade: workers in developing countries. We visited factories in Colombia and Bangladesh where Planet Money T-shirts are made, and spoke with people who are navigating a changing international landscape.
concept:
- Trade Gains
- Absolute advantage
- Comparative Advantage
music: Werner tangent line, Sorry I kept you up., Don’t look down & Bug Stardust and Tremors as We Know It
Find us: twitter / Facebook / Instagram / Tik Tok
Subscribe to our show Apple Podcasts, Pocket casting and NPR One.
Want extra points? Subscribe to Planet Money communication
[ad_2]
Source link
