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Essay / Research Paper Abstract
This 3 page paper looks at the concept for protectionism. Outlining what it is and then looks at the arguments that support its’ practice. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEprotectfor.rtf
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be argued that as well as the potential as a barrier to free trade there are some benefits in the use of protectionism. Protectionism takes place where there are
barrier out into place that will favour the home nation, this may include a range of measures, the most common being trade tariffs and quotas, which increase the cost of
the goods or limits the availability of the goods or services from other countries, increasing the need for the local businesses to meet the demand; protecting their market from foreign
competition. While this may result in barrier and limit the potential for international market expansion there are a number of benefits that need to be considered in order
assess the role of protectionism. Despite the arguments against protectionism it has been seen in many developed nations, and it is notable that the level has been increasing since the
2008 recession when the global credit crunch began, India has banned many toys from China, China has increased the stringency of the food making it more difficult for exporting markets
to gain access to the market. It is interesting as both of these measures are seen in markets that have traditionally benefits from free trade. The immediate impact in protectionism
is to protect national industries and as such protect jobs in those industries. If the jobs were not protected, especially in poor economic conditions the chances are that consumers would
buy the cheaper alternatives for much of the time, which would increase job losses and have a negative knock on effect in the economy (Nellis and Parker, 2006). Protectionism
may protect jobs in the short term, but it may also be used to give an industry time to develop and adapt in order to deal with international competition. The
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