Indus Valley Civilization Seals Found In Mesopotamia, Suggest

Indus Valley civilization seals found in Mesopotamia, suggest the existence of trade among ancient valley civilizations. There are evidences that the Harappans acquired raw materials from great distances that perhaps suggest very first signs of international trade. Centuries have passed by, but an ideal trade system to truly benefit everyone is not yet developed. During the colonial era, the European countries exploited labor and resources from the colonies while propagating global trade. Post the World War II, the developed nations, helped by the GATT and later by WTO, continued to encourage free world trade. Until the 1990s, free world trade had evidently supported the economic growth of developed countries as well as developing nations.†¦show more content†¦There are policies and fines against dumping under WTO’s regulation which would benefit the U.S. if any firm is found guilty. (China GDP Annual Growth Rate, 2017) The Chinese economy expanded at a growth rate of 6.8 percent in the fourth quarter of 2016, whereas, (United States GDP Growth Rate, 2017) the U.S. economy grew at a rate of 2.1 percent in the fourth quarter of 2016. (Trade in Goods with China, 2016) The United States had a trade deficit of USD 347,037.9 million against China in the year of 2016. The above statistics indicate that China’s growth rate is more than three times of the U.S. Because of practicing free trade, American firms outsource most of the unskilled labor intensive jobs to China. The government may give subsidies to local infant industries as well as dying traditional industries to protect domestic jobs and to discourage outsourcing. For example, giving subsidies to clothing industries would help to reduce production costs and enable the firms to compete with Chinese competitors. The local content requirement in goods can be increased significantly to protect jobs and intellectual property. Stricter administrative policies and higher import quotas on Chine se goods may be implemented to discourage the imports from China. The U.S. car and passenger industries have superior technology, skilled labor, and resources as compared to China and by implementing local requirement restrictions, import quotas andShow MoreRelatedEssay about Harappa and Aryans 1500 B.C.E1299 Words   |  6 Pagesdrains to carry away the wastewater. The covered drains along the city streets were a technological masterpiece and more sanitary than those found in many modern cities. It was not until modern times that the urban sanitation anywhere duplicate and then exceed Harappan models. The close attention to providing and carrying away water and the huge public baths suggest an emphasis on washing and personal cleanliness for ritual purity which later became important in Indian religion. 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