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Trade can be more equitable by  the government ensuring that labor laws are implemented correctly. The government using trade and investment barriers.

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Equity in Trade: Could Trade be more Fair?

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Equity in Trade: Could Trade be more Fair?

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Unfortunately, although voluntary trade may seem like the perfect scenario for both parties involved, this is most often NOT the case. Many less developed countries are unfairly taken advantage of by those countries that they are partnered with who are more prosperous. Achieving equity in trade can be very difficult. Developing countries are taken advantage of simply because they are more desperate and developed countries can, for example, get cheap labor from them. Developing countries do not have the means and materials they need so they are almost forced to pay the unfair taxes and prices on their imported goods from other countries. Therefore, one thing that could be done to make trade more equitable, especially for those developing countries would be to place more reasonable taxes on goods that they import and also to aid them with other barriers they face as they develop until they become more economically stable.

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Equity in Trade: Could Trade be more Fair? -Amil Hogan

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Equity in Trade: Could Trade be more Fair? -Amil Hogan

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Trade is an essential factor to any economic; however, not all trading is fair. Lack of fairness within trading can be seen mostly inside the economy of developing countries. Developing countries most of the time lack technology it takes to produce U.S standard products. Moreover, if they do not have the technology, they can't produce at a faster rate. In order to make trade more equitable,  the more developed countries will have to aid the less developed countries. This idea could lead to a more fair trading environment.

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Equity in Trade: Could  Trade be more Fair?          –Rakiyah Lenon

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Equity in Trade: Could  Trade be more Fair?          –Rakiyah Lenon

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Though some of the trading that goes on in our economic-based world is mostly fair, an stronger effort can be made to ensure that trade remains fair for younger, developing countries. These countries are at a higher risk of being taken advantage of. It's evident that in many cases, stronger countries tend to have more to gain from having a wide variety of trading partners. However, despite the risks, the articles states that developing countries can benefit from trade as well. If done correctly, it can help to boost their economy and give them a higher stance on the economic stage.

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Trading is fair off the simple fact that no-one is forcing you to trade, but based off the article I can see why you make the case of trade being unfair. Trade between countries of different economic stability can be much more beneficial for the country with the stronger economy. This is because of tariffs and the different ways they are implicated. I feel one way to make trade more equal would be to lower the tariffs rates when trading with a country much less developed than yourself.

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Equity in Trade: Could Trade be more Fair? Chelsea Hulsey

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Equity in Trade: Could Trade be more Fair? Chelsea Hulsey

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The concept of voluntary exchange is suppose to mean that supplier and the demander are happy and that they get what they wanted. But this exchange is not always fair due to the development of some countries. For example, developing countries they still have to pay surprisingly high tariffs on things such as clothing, fish , and textiles. Some country's do benefit from this concept of trade more than other countries. Well developed countries benefit from this concept of trade more than developing countries. This is because well developed countries have more resources to produce products more efficiently. One way to make trade more equitable is to support developing countries by lowering tariffs and eliminating tariff escalation.

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Inside of the economic system and the interdependence that takes place, equity in trade is every important. It is present in some cases, while in other cases equity is not present. In terms of countries trading with each other, achieving equity in trade can be a difficult task. Developing countries do not have the materials and circumstances necessary for a fair trade. Therefore, when trade occurs between developing and developed countries, the developing country has a tendency to be taken advantage of. One way that we might be able to improve fair trade is by having more regulations that promote fair trade.

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Equity in Trade: Could Trade Be More Fair?

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Equity in Trade: Could Trade Be More Fair?

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Is the exchange between supplier and customer fair? No, at least for the most part one country, usually the developing countries, are being taken advantage of; however this is partially the fault of the developing countries. I know your wondering how is it the countries fault for being taken advantage of? It is because a country is trying to be greedy by putting bindings ( "committed ceilings that are difficult to remove") and tariff escalation ["If a country wants to protect its processing or manufacturing industry, it can set low tariffs on imported materials used by the industry (cutting the industry’s costs) and set higher tariffs on finished products to protect the goods produced by the industry."] This may sound like a good thing, but to my understanding the binding makes sure that the country get the most bang for their buck. This in return means if a developed country does business with a developing country that means the developed country get more bang for their buck, which hurts the developing country's economy since they are not getting a fair amount for their exports. One party may benefit more than the other party at times. Seeing that the developing countries have put so many tariffs on their products it makes it easier to get over on them but harder to trade with them. One way to make trade more equitable would be by putting positive incentives and beneficial tariffs on their exports, along with reasonable taxes on their imports as well. I feel if the developing countries put positive incentives for the countries importing their products and beneficial tariffs for themselves as well. They would be able to have more alliances and get more trading contracts that are long term. Along with that they would benefit more if the developing country does not send out their products dirt cheap. They will get fair wages for their products and more respect in the long run.

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Trade between countries is a common and a mutual beneficial practice. The trade can be unfair to one country though. Trading between countries doesn't just involve the items being exchanged. There are tariffs involved in the process. A struggling country may need to trade to help improve its economy, but the country they want to trade with has high tariffs may discourage them from trading. Negotiating lower tariffs with the countries could be an option for both countries to get what they want. The struggling country could also add in another product that the country with high tariffs may be interested in.

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Equity in Trade: Could Trade be more Fair?

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Equity in Trade: Could Trade be more Fair?

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Ean Jarvis: Developing countries have a lot of odds stacked against them unfortunately, and this leads to inequity in trade; so yes, trade could be fairer.  Developed countries, like all others, will want to make the best deal as well as profit for themselves.  All countries will institute tariffs and policies that fully benefit their economies, while not necessarily caring about the effects that are being felt by other countries.  For developing countries this must be very difficult to find a foothold in the exchange with developed countries.  As the article states, “The least-developed countries are worst placed to make the adjustments because of lack of human and physical capital, poorly developed infrastructures, institutions that don’t function very well, and in some cases political instability”.  I think narrowing the gap in trade equity should start by lifting trade barriers like tariffs as much as possible for these countries.  This will free up money to invest in human capital.  Educating the citizens of these developing countries, so that they are better equipped to contribute to the economy, will in turn create more goods and services to export.

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Equity in Trade: Could Trade be more fair?

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Equity in Trade: Could Trade be more fair?

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Trade could be more fair if we better responded to the deficiency of developing countries within the market. While concepts of trade including voluntary exchange have been introduced to make trade more equitable, it’s not always fair to developing countries. Developing countries are subject to disadvantages such as tariff peaks, tariff escalation, and erosion of preferences which results in them becoming the less favorable party within such concepts of trade. To make trade more equitable, it’s vital to support developing countries through aid and policy-making to further allow them to overcome the barriers they face against larger, developed nations.

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Voluntary exchange is a method in which both the supplier and the demander supposedly receive what they want. However, this is not always the case, no matter how good the intentions of this system may be. Developing countries are victimized by “high tariffs on selected products” (Some Issues Raised). This is highly unfair to the developing countries. However, the developing countries themselves are at times the originators of the high tariff rates. Erosion of preferences is another idea that concerns developing countries. The erosion of preferences is the “special tariff concessions granted by developing countries” (Some Issues Raised). These preferences vary in value in that they are extremely unpredictable. If the developing countries intend to elevate their benefits from high tariffs and fluctuating preferences, they will need to maneuver their economy and infrastructure accordingly. However, this is nigh impossible simply because developing countries have neither the funds nor the people to improve these aspects. One way that I believe trade could be more equitable is if tariffs for certain groups of products- for example, foods, toys, or machinery- were made universal for every country.

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Based on the article, I do believe trade is mostly fair, but I also see why it seems unfair to developing countries. Things that most stand out as unfair are high tariffs, tariff escalation, and erosion of preferences. Some have objected to high tariffs they’ve faced in key markets because they get in the way of their important exports. For goods that are thought to be sensitive, tariffs remain high, some of these include; clothing, fish, fish product, and textiles. Also, tariff escalation can be a problem, this is when a country tries to protect it’s manufacturing industry by setting low tariffs on imported finished products, which cut the industry’s costs. The downside to this is they make it more difficult for countries producing raw materials. Additionally, something that is worrying developing countries is erosion of preferences. Preferential rates given to developing countries by developed countries can be lessened if the normal tariff rates are cut, this makes trade through these preferential rates irregular. Some of these developing countries can adjust with the ever-changing economy, but some poor functioning economies can not because of many reasons, one of these being politics. Most of these unfair issues can be solved though. For example, high tariffs can be managed by adding “bindings”, which adds safety to developing countries trading exports. Likewise, tariff escalation is less harsh in the places it remains due to many people eliminating it. Erosion of preferences can also benefit some countries, but it differs with each product.

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Equity in Trade: Is it fair?? by: Kamryn Owolabi

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Equity in Trade: Is it fair?? by: Kamryn Owolabi

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Though developed countries agreed to help developing countries, they do so for their own benefit. Developed countries need different things for their own economy, and at times their agreements can conflict with others. The WTO made agreements to help improve developing countries, but with a poorly developed infrastructure it’s difficult for them to maintain a balanced economy. There are other systems that also hamper their growth such as tariff peaks. Though lowering the tariffs seemed like a good idea, it would only be lowered by 2-5%. This isn’t helping the developing countries at all. In this case it’s only causing more competition. This also applies to developing countries trading amongst themselves. Because tariffs are so high they hurt rather than help each other. Like stated above developed countries try to help by lowering the tariff rate, but this can always be taken away leaving the developing countries with unpredictable trade agreements. To make trade more equitable we should have a fixed tariff rate for developing countries, and the tariff reduction should be considerably lower.

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Is equity actually equal?
The idea of equity seems on first glance to be equal. However, if one country specializes in one good and sells it at a higher price than what it should be, is it really an equal trade when there are too many deficits. One idea is to allow countries to lease the idea for a short time to see if they can actually produce the good by themselves and not need an outside market or resource. Trade does not always equal peace, in 1913 before WW1, trade was the highest it could ever be, then in 1914 the war started. Countries like Germany and Austria-Hungary were unable to produce uniforms or produce food because the Allied navy was blockading them from receiving shipments.

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Equity in Trade: Could Trade be more Fair?

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Equity in Trade: Could Trade be more Fair?

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When we take a look at macroeconomics, we witness a regular exchange between suppliers and demanders. When these parties are developing and developed countries, we notice a distinct discrepancy between the goods/services being exchanged and the funds traveling from party to party. In other words, trade between participating entities is not always equal, and several factors impact the likelihood that both countries will benefit mutually, and to the same degree. The WTO (World Trade Organization) has established a number of standards in attempt to level the playing field as much as possible. It’s important to be mindful of these so that we can deduce how shortcomings manage to come about. Primarily, the goal is to achieve trade without discrimination, where countries cannot be unfairly selective with regards to the countries they trade with. The WTO recognizes negotiation as a means by which free trade can be achieved (lowering trade barriers and thusly making trade more accessible). In order to level the playing field additionally, around 75% of the WTO participants work specifically to help developing countries transition into developed market economies. I think that the most significant issue posing a threat to trade equity is the discrepancy between the capabilities of developed countries and developing countries. Excluding phenomenons such as tax/tariff peaks and preference erosions, we can look at the discrepancies between what is demanded and what is supplied. If the supplier in a trade incident is a developing country, they are only as capable of providing a good/service as their own economy. If their economy is unable to substantiate what is being demanded of them, they will not benefit from the trade. I think that if we could find a way to insure that developing suppliers were only involved in trade opportunities that would strengthen their economy, rather than strain it, we could sufficiently increase trade equity. There has to be a method or algorithm that can be used to ensure that trade between a developing country and and a developed country is mutual, almost like a trade quota - the maximum value a developing country can either spend or provide without straining their economy.

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Equality in Trade: Could Trade be more Fair?

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Equality in Trade: Could Trade be more Fair?

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As the article states, sometimes one party in trading might benefit more than the other. This can be partly due to some countries having such a gap between how much money each has. When a lesser developed country tries to trade with a more advanced country, sometimes they might not have the money needed to pay for the goods as well as the high tax on the goods. It can be the same way when two lesser developed countries trade, and though they are both lacking in money, they could still have a high tax on their goods, making it difficult for one or both parties. It would be good for the lesser developed countries if they were able to make the trades more equal between themselves and other countries, however, without a stable government and structure, they aren't in much of a place to be doing so, as the article says in its last paragraph. -Heather Covey

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Equity in Trade: Could Trade be More Fair?

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Equity in Trade: Could Trade be More Fair?

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World economic trade, while voluntary, is not always fair and profitable for all participants. Higher developed countries such as the U.S. and China have a much greater labor force and advanced technology. Therefore, they are able to produce products much more efficiently and cheaper. As a result, they can charge more. Underdeveloped countries typically aren't very technologically advanced and don't have a steady labor force. They are not able to produce goods in as high quantities or efficiencies as others. They also can't charge or demand as much for them during trade, or spend as much on the nicer, expensive goods from other nations, so they get the bad end of the bargain.
To make trade more equitable, I would find a way to get more labor and technology to the underdeveloped nations and give them a fair shot at production. Then, I would set standard worldwide prices for the most traded goods.

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Equity in Trade: Could Trade be more Fair?

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Equity in Trade: Could Trade be more Fair?

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The article linked discusses the inequity that exists in trade between developed and undeveloped countries. Obviously the countries with a lesser economic presence are the ones being taken advantage of by large, economically mature nations. Some may ask why this is a problem. The answer to that would be because while developed countries are getting wealthier and healthier, undeveloped countries are struggling to keep their heads above water. How do we fix? In order to fix any problem, you have to get to the root of it. The root of the problem is that undeveloped countries do not have the same access to educational resources that developed countries have. This lack of an essential resource causes a shortage of well educated generations which further prevents growth in all aspects of life. I propose an opportunity funded by taxes to allow western graduates the chance to travel to undeveloped countries and educate the younger population. This solution benefits all sides of the equation. Undeveloped nations would have the opportunity to increase their academic resources, western graduates would have an incredible experience under their belt, and western countries would form better alliances with these undeveloped nations. Of course this will not completely end the inequity that exists in trade, but it is a start to the very extensive process.
-Lily Moser

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Equity In Trade: Could Trade be more fair?

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Equity In Trade: Could Trade be more fair?

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Trading could be more fair, since it involves countries with different economic situations. Poor countries would probably want more money for there goods since the money will help them. Also countries with more resources would be able to produce more, which would make their products have a higher want so it probably would cost more. I guess if the trading was like a win- win it could be fairer, both benefiting. The countries could trade things that they need 1st, so no one feels cheated. Resources could be trade on their value to the other or highest quality.
(POSSIBILITY)
They could be sweet and trade seeds and dirt, so everyone can try to grow their own resources. So the only "trading" is going on in the countries economy and we won't have to trade with no one (other countries).

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As dependent countries struggle to survive behind leading developed nations, the world attempts to balance the economic playing field with restrictions on tariffs and open forums for trade on certain raw materials found within developing nations. Yet, this forum doesn't appear to always be in the favor of those who lack in economic maturity. Developing nations still face deficits in education, machine and human labor, as well as political stability. While these countries often seek to mimic their richer, democratic counterparts, they majorly fall short of acquiring all the factors found in western countries as a result of their economic insecurities. One way we could enable these countries to evolve into their own equal counterparts is to send bright students to western nations for a free education paid for by collective taxes between the western and developing nations in the agreement. The taxes on the western end would mostly go towards the developing student's education which would benefit them in the long run if the student achieves in the academic field of their choice. However, there are a few issues with this such as education gaps and a lack of academic resources in the developing country that could potentially be needed for the student to succeed in the western nation. This might be remedied through extensive college prep that the student attends in the developing nation or back home through borrowed technology and internet placed by western nations in hopes of a return of profit from the students as well as profits gained from an interest in advanced technologies and service interests. In extension, developed countries should have the opportunity to pair up with developed nations to remedy the tariff crisis. Politicians and economists from developed nations could educate the developing nation's political groups on how to acquire fair tariffs and how to effectively trade with other developing nations for an evolutionary change in the region. The western nations would gain from this mutual friendship through tariff preferences and additional raw materials found across the developing partner's land.

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Equity in Trade: Could Trade be more Fair?

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Equity in Trade: Could Trade be more Fair?

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Based on the article, it is definitely possible that trade could be more fair. However, the question is: why is trade unfair to begin with? It has to do with the differences within various countries' economies. For example, some countries are highly developed; therefore, they can produce higher-costing goods. In a country that isn't as developed, producing goods is a lot harder to do. Because one country has better goods than other, this can make trade difficult. The more developed country may not have a need or demand for what the less developed country is willing to trade. However, there are efforts in place to help trade have more equity. Some tools used are reforms in agricultural trade, reductions in customs duties on industrial products, and so many more.

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Check out this article from the WTO World Trade Organization with an example of the Uruguay Round showing trade concerns for developing countries.

Post your ideas on equity in trade and at least one idea on how to make trade more equitable.  Why is equity in trade a hard shift for developed countries to make?

article: https://www.wto.org/english/thewto_e/whatis_e/tif_e/dev4_e.htm

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Equity and Trade: Could Trade be more Fair?

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Uploaded by Jacilyn Ledford on 2017-06-28.