Studied by 2 people
What is protectionism.
Protectionism is when a country takes action to protect its own industries by restricting trade with other countries.
Why do countries employ protectionism?
Protect Infant industries
Dumping (when developed countries js dump excess products into undeveloped nations, threatening domestic producers)
Domestic employment
Externalities (blocking drugs/weapons, alcohol in Qatar’s case)
Balance of payments (can reduce BOPOCA deficit)
Protectionist Measures
Tariffs (+: domestic goods protected, -: higher price for consumers)
Import Quotas
Legislation
Domestic subsidies
Embargoes
good job btw
:)
