(i) International trade is mutually beneficial to nations if it leads to regional specialisation, higher level of production, better standard of living, world wide availability of goods and services; equalisation of prices and wages and diffusion of knowledge and culture. (ii) International trade can prove to be detrimental to nations as it leads to dependence on other countries, uneven levels of development, exploitation and commercial rivalry leading to wars. (iii) Global trade affects many aspects of life, it can impact every thing from the environment to health and well being of the people around the world. (iv) As countries compete to trade more production and the use of natural resources spiral up, resources get used up faster than they can be replenished. (v) Marine life is also depleting fast, forests are being cut down and river basins sold off to private drinking water companies. Multinational corporations trading in oil, gas mining, pharmaceuticals and agri-business keep expanding their operations at all costs creating more pollution.