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Beggar-thy-neighbor |
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Beggar-thy-neighbor An international trade policy of competitive devaluations and increased protective barriers that one country institutes to gain at the expense of its trading partners. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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During the Great Depression, the greatest of all balance sheet recessions, those countries that tried to stick with balanced budget principles not only ended up experiencing the greatest economic declines, but also caused global fallacy of composition through their beggar-thy-neighbor policies. Instead, a combination of international beggar-thy-neighbor politics and a rush of millenarian fear seems to be taking over. In the years ahead, one hopes that cooperation, not the present beggar-thy-neighbor competition, will mark relationships within the region, since city and suburbs share a common destiny. |
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