Myanmar trade laws

Trade (v) = to exchange things

Market (n) = a place where things are exchanged

And now, due to globalisation, trade happens between all different countries all over the world and we have a global market. Trade has become the main way in which different countries and different people communicate.

Some people argue that there should be few regulations and controls in the marketplace. They think that the value of things (what something is worth) is best determined by the forces of supply and demand.

So for example, if lots of people want bananas (demand), and there are not many bananas (supply), then bananas will be of a high value (more expensive) and at the same time, not many people want watermelons but there are lots of watermelons, then watermelons will have a low value (low price). Some people think this is the fairest way to decide on the price of something. They believe governments should not regulate and control the price of things (e.g. bananas and watermelons) in the market.

I find it all very confusing and maybe the Myanmar government does too. There has been quite a bit of criticism of the new draft Trade Law.

Enter your details below to read ten TFNG questions about the new draft Trade Law. Then read the article about new trade legislation and answer the questions.