What are pros and cons of financial liberalization?

Answer 1

There are both pros nad cons of financial liberalization
Pros

Productivity grows more quickly when countries produce goods and services in which
have a comparative advantage. Living standards can go faster.
• Global competition and cheap imports keep a lid on prices, inflation is less likely to derail
economic growth.
• An open economy spurs innovation and new ideas from abroad.
• Jobs transactions often pay more than other jobs.
• capital flows unrestricted access to U.S. foreign investment and keep interest rates
low.

Cons
• Millions of Americans have lost their jobs due to imports or production shifts abroad. Most find new
-jobs that pay less.
• Millions of others fear losing their jobs, especially in firms operating under
competitive pressure.
• Workers face pay-cut demands from employers, who often threaten the export of jobs.
• Service and white-collar jobs are increasingly vulnerable to operations moving offshore.

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