Protectionism Flashcards
1
Q
What is protectionism?
A
Protectionism represents any attempt to impose restrictions on trade in goods and services.
2
Q
Why is there a rise in protectionism?
A
Protectionist tendencies have grown because of slow growth and widening trade imbalances.
3
Q
What are the motivators for protectionism?
A
- protecting infant industry
- protecting jobs
- national security - Japanese example of rice and crisis
- discourage unethical practices
- revenue
- protect consumers from unsafe products
- protection from dumping
- narrowing the balance of payments deficit
- cultural preservation
4
Q
What are the different forms of protectionism?
A
- Quotas
- Tariffs
- Voluntary Export Restraint
- Intellectual property laws
- Technical barriers to trade
- Preferential state procurement policies
- Export subsidies
- Domestic subsidies
- Import licensing
- Exchange controls
- Financial protectionism
- Murky or hidden protectionism
