Protectionism or not?

06Oct10

Protectionism is an economic policy that restrains trade between countries. Tariffs (tax on imported goods), setting quota (limitation of number of goods imported), and subsidizing domestic suppliers that are inefficient enough are methods used for protectionism. Protectionism is in contrast with free trade, which the government does minimum on restriction of trade, therefore, the flow [...]

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Free Trade

04Oct10

Free Trade Definition Real World Example Tariff It is tax that is placed upon imports to protect domestic industries from foreign competition and to raise revenue for the government. China imposes tariffs on poultry imports from United States. Article Quota It is an import barrier that sets upper limits on the quantity or value of [...]

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