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Free trade is a term meaning unregulated trade between nations without [[tariffs]] or quotas placed on the goods exchanged.

Free trade is a term meaning unregulated trade between nations without [[tariffs]] or quotas placed on the goods exchanged. This is generally a positive thing as it allows countries with an [[Absolute advantage]], such as [[China]], to cooperate with its neighbors and produce more goods than either country could in isolation.

Free trade is controversial because it can have undesired side effects, such as a massive loss of manufacturing jobs by the wealthier trading partner though a mechanism known as "offshoring" those jobs to a trading partner having cheaper labor.

Free trade is controversial because it can have undesired side effects, such as a massive loss of manufacturing jobs by the wealthier trading partner though a mechanism known as "offshoring" those jobs to a trading partner having cheaper labor. In economics, this is known as a [[market correction]].

Free trade also raises moral issues, such as the use by a nation of slave-labor or building military weapons to be used against other nations.  In addition, free trade can increase the importation of undesired, concealed illegal [[drugs]].   

Free trade also raises moral issues, such as the use by a nation of slave-labor.  In addition, free trade can increase the importation of undesired, concealed illegal [[drugs]].   

[[Category:Politics]]

[[Category:Politics]]

[[Category:Economics]]

[[Category:Economics]]