Explain and critically examine the statement?Free trade promotes a mutually profitable regional division of labour greatly enhanced the...

The statement is a very hopeful view of free trade and
capitalist enterprises.  There is a fundamental implication of the "invisible hand" that
will enable as many people as possible to benefit through an economic pursuit of self
interest and profit making motives.  The other element that strikes me in this statement
is its global reach.  It is a statement that makes the assumption that free trade,
global deregulation, economic competition, and capitalism motives will bring everyone
into greater riches.  I think that the statement is a hopeful vision that might not take
into account the fact that some will choose to embrace profit making motives over the
general good or the welfare of others.  It does not account for the reality that there
might be some level of regulation needed in this configuration, and that governments and
other watchdog groups need to ensure that free trade initiatives do foster an equitable
exchange for multiple nations and ensure that as many people are brought into the
process of making and keeping wealth.  The statement does not reflect what might happen
if there is a consolidation of wealth in the hands of a privileged few over the costs
and needs of those who "want in" to such a system.  The idea of free trade and
capitalism, in general, is one where the playing field should be open to as many people
and organizations as possible without the collusion that might happen in such endeavors
to crowd out competition.