(i) May lead to dumping of inferior products into the country.
(ii) May cause over exploitation of resources leading to their depletion.
(iii) May lead to loss of jobs due to closure of firms that cannot cope with competition.
(iv) May contribute to worsening balance of payment situation as developing countries have fewer/ lowly valued exports.
(v) Cultural values and beliefs may be eroded due to unrestricted trade.
(vi) Entry of harmful goods. Goods with harmful ingredients such as beauty creams and drugs may ?nd their way into the country.
(vii) Slow economic development. The country may stagnate due to over dependence on other countries for supplies.
(viii) Brain drain. The developing country looses skilled personnel to better developed countries Who provide better pay and amenities.
lemass answered the question on February 14, 2019 at 16:10
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