Tuesday, January 3, 2012

Trade With North Korea. Beneficial?

While many people see North Korea as a horrible country, businesses may not, cost of labor would be cheaper than China and North Korea is supposedly rich in natural resources so mining companies could benefit. From a business point of view North Korea is fantastic, here you have a bunch of citizens who don't have a minimum wage, don't have safety requirements, and have no idea what's going on in the outside world. To a business this means extremely low wages, cheap quality equipment, and no possibility of uprising. While this may sound sadistic, it's unofficially/unfortunate that that is how many companies think. So my opinion is yes, Trade with North Korea would be beneficial

Trade inevitably opens lines of communication between cultures. History shows many examples. At one time we had isolated ourselves from all of Eastern Europe and China. Once we began to interact commercially, slowly our peoples began to become less fearful of one another and the changes that occurred you can see today. I don't see anything positive in isolating North Korea. Their starving people are unwilling or unable to overthrow their government. Letting them see how the rest of the world lives will bring the changes we seek. Cuba is another example of how economic isolation accomplished nothing of value. You'd think we'd learn but here we go again with Iran.

igolder.com
Quote Taken from "Not A Zero Some Game" by Manuel F. Ayau
"...comparative advantage is fundamental to any human economy-not just to market economies or only to international trade, but to human society itself."(15)

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