Most of us are familiar with the concept of trade liberalization, isn’t it? As we all know, majority of the policy-makers make sample assessments and talk about trade liberalization in order to increase the pace of economic growth in the developing countries of the world. However, there are some detrimental effects of trade liberalization on the environment. To know more, just read on.
Unlike in the developed countries of the world, the developing countries depend primarily on agriculture in order to retain the balance of payments in their favor. This in turn is resulting in exploitation of different types of natural resources. In order to improve the trade volume, over-exploitation of natural resources is taking place which in turn is causing harm to the environment. Like for example, cutting down of trees for building factories, high-rise apartments, and so on and emission of harmful pollutants from factories is causing serious damage to the environment. As a result, standard of living is gradually falling in real terms.
Hence, though trade liberalization is very crucial for a country’s economic growth and the effect of trade liberalization may vary from one country to another, due care should be taken to protect the mother Earth or else human beings will gradually become extinct.