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What are the pros and cons of global trade?
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Pros of global trade: 
1. Increased competition, leading to lower prices and improved product quality.
2. Richer customers with access to more products and services.
3. Expansion of employment opportunities due to increased demand for diverse labor.
4. Increased trade volumes lead to global economic growth and improved standards of living.
5. Improved diplomatic relationships between nations.

Cons of global trade:
1. Some local jobs may be lost to outsourcing.
2. Unequal competition leading to the decline of certain industries in developed countries.
3. Illicit proceeds from international trade used to finance organized crime or terrorism.
4. Global environmental damage caused by transporting goods and materials from one country to another.
5. Potentially negative changes in cultural identity due to the spread of new ideas and products.