Is Protectionism Ever Justified
Is Protectionism ever justified? Explain with examples.
Ria Rajendra
C11IB (International business management)
Dr. UmmeSalma Mujtaba
October 29, 2013
Contents
a. Introduction
b. Arguments for protectionism
i. Infant industries ii. Free Trade iii. Anti- dumping iv. Environmental factors
v. Employment opportunities and the concept of balance of payments disequilibrium vi. Cultural influences
c. Protectionism vs. Free Trade
d. An analysis based on % news articles from, The Economist
i. Appendix.1 ii. Appendix.2 iii. Appendix.3 iv. Appendix.4
v. Appendix.5
e. Conclusion
Is Protectionism ever justified? Explain with examples.
a. Introduction
Protectionism is said to be a “Government’s actions and policies that restrict or restrain international trade, often done with the intent of protecting local businesses and jobs from foreign competition…” (Investopedia, 2013) Basically means imposing some sort of trade restriction which would in turn benefit the domestic business and industries from overseas competition. A nation going through with protectionist measures today is definitely an argument which raises the question that, Is Protectionism ever justified? And if it is what are the examples we have that justify protectionism.
Protectionism is in arguably determined to be a movement against globalization but in turn it protects domestic businesses and jobs within a country with the help of policies or doctrines which in turn restrict or regulate foreign trade. (Regine, 2012) So why would protectionism be a bad thing if all it tries to achieve is protection of a nation’s domestic industries and development of the nation. Even though this is said to be a notion that goes against globalization, it is definitely a notion worth considering and justifying.
This essay argues on the justifications for Protectionism and how Protectionism is taking place in Russia, Argentina, Brazil, China and France with the help of news articles. The articles will be
Ria Rajendra
C11IB (International business management)
Dr. UmmeSalma Mujtaba
October 29, 2013
Contents
a. Introduction
b. Arguments for protectionism
i. Infant industries ii. Free Trade iii. Anti- dumping iv. Environmental factors
v. Employment opportunities and the concept of balance of payments disequilibrium vi. Cultural influences
c. Protectionism vs. Free Trade
d. An analysis based on % news articles from, The Economist
i. Appendix.1 ii. Appendix.2 iii. Appendix.3 iv. Appendix.4
v. Appendix.5
e. Conclusion
Is Protectionism ever justified? Explain with examples.
a. Introduction
Protectionism is said to be a “Government’s actions and policies that restrict or restrain international trade, often done with the intent of protecting local businesses and jobs from foreign competition…” (Investopedia, 2013) Basically means imposing some sort of trade restriction which would in turn benefit the domestic business and industries from overseas competition. A nation going through with protectionist measures today is definitely an argument which raises the question that, Is Protectionism ever justified? And if it is what are the examples we have that justify protectionism.
Protectionism is in arguably determined to be a movement against globalization but in turn it protects domestic businesses and jobs within a country with the help of policies or doctrines which in turn restrict or regulate foreign trade. (Regine, 2012) So why would protectionism be a bad thing if all it tries to achieve is protection of a nation’s domestic industries and development of the nation. Even though this is said to be a notion that goes against globalization, it is definitely a notion worth considering and justifying.
This essay argues on the justifications for Protectionism and how Protectionism is taking place in Russia, Argentina, Brazil, China and France with the help of news articles. The articles will be
Bibliography: Investopedia. (2013). Protectionism. Available: http://www.investopedia.com/terms/p/protectionism.asp [Accessed 29 October 2013] Regine Adele Ngono, F N.a. (2007). Dumping Protectionism, The Wall Street Journal, 1st November. Available: http://online.wsj.com/news/articles/SB119386549181678122?mg=reno64-wsj [Accessed 29 October 2013] World Trade Organization Central economics wiki. (2013). Free Trade and Protectionism. Available: http://centralecon.wikia.com/wiki/Free_Trade_and_Protectionism [Accessed 29 October 2013] N.a N.a. (2013). Putin Orders Protectionism to Help Russian Manufacturers, RIANOVOSTI, 2nd October. Available: http://en.ria.ru/business/20131002/183906253.html [Accessed 29 October 2013] N.a N.a. (2013). Protectionism in China, The Economist, 6th April. Available: http://www.economist.com/news/business/21575776-one-party-state-chides-electronics-firm-arrogance-red-apple [Accessed 29 October 2013] N.a