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Essay / Research Paper Abstract
This 3 page essay explores tariff-based protectionism and its effects on the global economy, making an argument in support of the WTOs support of the nations who dropped tariffs during the crisis. Bibliography lists 1 reference.
Page Count:
3 pages (~225 words per page)
File: JV57_JVwtoprot.rtf
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Unformatted sample text from the term paper:
economic downturns. However, these very same protections get in the way of free market trade. For hundreds of years, protectionist programs stalled the progress of global expansion, but those stalling
tactics were freed at the end of the last century. Only a decade later, protectionism once again stands in the way of the international free trade system. Stifling free trade
will not solve the current economic woes, analysts argue. The only way to recover from the economic crisis is to reopen trade and allow the markets to take care of
themselves. Although tariffs are a current concern to analysts, it is doubtful they will play a more significant role than nontariff barriers
for the next ten years. While tariffs have applied the brakes to global expansion, the slowdown will not last as long as predicted due to the fact that everyone gets
the chance to play in a global market economy. Competitive Analysis Though they are not
the only countries to do so, many blame the two countries that have controlled free trade for centuries for setting a bad example during the latest economic downturn, the United
States and Great Britain. Once these leaders set tariffs, others followed suit. "Country after country are establishing trade barriers to protect parochial domestic interests," says Richard Weiner, a Sidley Austin
LLP trade lawyer. "The end result will be to deepen the crisis and prolong the pain" (Miller). The World Trade Organization (WTO)
agrees and admonishes the global leaders saying that the stimulus plans put into effect during the downturn will "strangle" the gains that have been made in international trade due to
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