Can anyone please simply explain in words
to me that why free trade is a good thing even for a high-wage country like the U.S.???
Thanks a lot!!!!
1 answer
The key to trade is that both parties are better off. (If one of the trading parties is worse off because of the transaction, they would not engage.) Its win-win. And this is true regardless if the countries/business/people doing the trading are high income or not.