Skip to main content

Trade war and its impact on global economy Group Discussion Topic for Airforce Phase2

Trade war and its impact on global economy:
Trade war is a situation where two or more countries try to destroy the trade between them by imposing restriction.
Trade war is an economic battle between countries where they levy additional taxes on each others products exports in order to protect their on Economy.
A trade war happens when one country retaliates against another by raising import tariffs or placing restrictions on the other countries imports.
 

Trade war does have its own advantages and disadvantages as well. It promotes local job growth and  it will also increase demand for domestic goods and protect nations with un-ethical trade policies, on the other hand It increase costs and it will also slows down economic growth. It hurts diplomatic relations and cultural exchange between nations.

Due to trade war various Nations have moved towards protecting their economy to tackle the race of International Trade like in India various programs like make in India, startup India and Atmanirbhar Bharat are running by Indian government to enhance their local  business and to provide employment and uplift their economy as well. A study by IMF (International Monetary Fund) shows that recent USA- China trade war affect global economy very badly.  WTO (World Trade Organisation) should make their own norms to regulate global trade as it will mostly affect the developing countries.


Effects of trade war :

     Protect domestic companies
Increase local jobs
     Domestic products demand increases Reduced choices for customers 
     Increase cost induce inflation 
Slow economic growth 
      Hurt diplomatic relations

In conclusion, trade Wars between countries are said to be more harm than cure and it will bring failure in the economic activities, trade tensions, economic downfall and inflation.

Labels:

Comments

Post a Comment

Thanks for showing interest. Join on Telegram Search airforcestudy on Telegram App.

Popular posts from this blog

Cyber Security Need of the hour: Group Discussion Topic for Airforce Phase2

Cyber security : Need of the Hour It is the time when whole world is suffering from covid crisis.  Currently government websites are being hacked, Banks also reported breach of confidential data from their servers,  the energy and nuclear power plants control systems are infected with virus Trojan and social media accounts of  celebrities being hacked. People are receiving text messages asking amount or money has been deducted from their bank accounts. The whole Nation is in a state of confusion.  It is clear that our country has become a victim of cyber attack and there has been 260% increase in cyber attacks since lockdown induced due to covid-19 pandemic. Due to increasing network and interconnectivity cyber attacks have become more common.   Cyber attackers uses different methods for attacks.  First , There are many financially motivated organised crime groups uses cyberspace as Warfare to hack business, Networks and demand mo...
Post a Comment
Read more

How to daily plan your day for maximum benefit

Planning is the key to management. The better you plan, the better you will be able to manage the tasks you are provided. Planning ahead of your schedule allows you to be proactive and makes you ready to withstand whatever is sent your way. Use a planner is a smart way to start with. It lays it all down whatever is needed to be done so that you know how much work you have and how you are going to manage it all in a limited time period. Your planner does not necessarily have to be a traditional diary. You can maintain your planning anywhere that is feasible for you– computer, notebook or your phone. What matters is that you have everything aligned appropriately according to priority. Plan weekly so that you know what lies ahead in one quick glance, and then you can adjust other smaller tasks accordingly. When planning, you need to be careful about how you schedule your tasks. Know that you cannot plan each minute exactly. That is unrealistic. You need to be more considerate about the bi...
Post a Comment
Read more

Bhuri Bai a tribal champion

Bhuri Bai a tribal champion  From extracting colour from plants and clay and painting on walls to stroking acrylic  colours on papers, Bhuri Bai is known as the first tribal woman artist to popularise the  art of Pithora painting. Bhuri Bai is an Indian Bhil artist.  Born in Pitol village, it's situated on the border of Madhya Pardesh and Gujrat but pitol  is a village of Jhabua district in Madhya Pradesh, Bhuri Bai belongs to the community of  Bhils, the largest tribal group  She has won many awards including the highest state honour accorded to artists by the  Madhya Pradesh government, the Shikhar Samman. She was awarded India's fourth  highest civilian award the Padma Shri in 2021.  Bhuri, belongs to one of the larg with many awards including Shikhar Samman, Madhya Pradesh’s highest state honour.   Nari Shakti Puraskar (Woman Power Award) is an annual award given by the Ministry of  Women and Child Development of  institutions that w...
Post a Comment
Read more