Purchase Solution

Trade Protectionism

Not what you're looking for?

Ask Custom Question

What's wrong with the following statement? A high level of international trade protectionism is needed if developing countries are going to be able to industrialize and develop their own domestic industries in the face of fierce foreign competition.

I understand that trade protectionism limits what can be imported, and that a developing country may not be given the chance to expand or develop their own industries in the face of already established competition. So this statement should say that in order to expand, developing countries would need low levels of international trade protectionism. Am I reading this correctly? What other factors need considered?

Purchase this Solution
Solution Summary

This solution discusses trade protectionism.

Solution Preview

This statement has basically a synopsis of the infant industry argument for tariff protection. In fact, this policy has been implemented successfully. Both the US and Germany used tariffs to protect their fledgling industries during the Industrial Revolution from their ...

Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

View More Free Quizzes
Related BrainMass Solutions

  • Ricardo's theory of comparative advantage, protectionism

    What goods do countries trade? A quantitative exploration of Ricardo's ideas. The Review of economic studies, 79(2), 581-608. c) Abboushi, S. (2010). Trade protectionism: reasons and outcomes.

  • Protecting The Domestic Market

    Anytime a government undertakes restrictive trade measure actions, they are engaging in protectionism. There is a significant debate surrounding the merits of protectionism.

  • Protectionism and unfair trade practices

    594527 Protectionism and unfair trade practices Unions in developed nations often oppose imports from low-wage countries and are strong advocates of restrictive trade barriers to protect what they view as "unfair" import competition.

  • Trade Regulations & Industrial Policies: WTO

    The WTO when giving its rulings balances legitimate national policy goals versus protectionism In case of China the WTO dispute resolution panel ruled against protectionism.

  • The impact of trade barriers on Belize and Japan

    Protectionism and Barriers to Trade Protectionism may be the defined as government actions and policies that restrict or restrain international trade (trade between nations).

  • Links to References and Articles on Profit sharing and Trade

    Protectionism and Sovereign investment (attached) d. The Fateful Allure of Protectionism (File is too big for upload. Just access the http://www.voxeu.org/reports/WorldBank.pdf) e.

  • Types of Trade Restrictions

    This solution provides you with detailed information about various types of trade restrictions or means of protectionism adopted by countries across the world.

  • Satirical petition by Bastiat

    Protectionism aims to prevent this end. If protectionism succeeds, world output and consumption are lower than they might otherwise be because resources are not being put to their highest valued use.

  • Reasons Countries Seek Protection for Industrialization

    A shift to an industrial base requires trade protection and preferential trade agreements to allow the new industries access to global markets.

View More Related Solutions