Protectionist


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Protectionist

A scholar or other person who favors government policy or regulation restricting international trade. Examples of policies supported by protectionists include import quotas, which set a maximum number of imports for a certain good over a given period of time, and import substitution, in which the state subsidizes businesses and industries to make domestic goods less expensive. By far the most common example of protectionism, however, is the tariff, which is a tax on imports. Protectionists argue that protectionism encourages domestic production of goods and helps working class people, while critics contend that it hurts the people it aims to help by discouraging competition, which may drive down prices. The balance of protectionism and free trade is a controversial topic regarding the government's role in international trade. See also: General Agreement on Tariffs and Trade.
References in periodicals archive ?
Countries that use such explicitly protectionist NTBs know they will be subject to disputes in the WTO and will likely lose.
Protectionist or his industry, or if you wish for domestic industry, a profit of five francs.
Or was it right to use protectionist measures to save them?
But they should understand that any protectionist barrier will deepen the recession.
Chapters on party system evolution in New South Wales (Michael Hogan) and Victoria (Paul Strangio) highlight the different ways in which a supportive environment for fusion was created in those states--involving, in New South Wales, the early emergence of a strong Labor Party, acquisition by the Free Trade Party of some characteristics of a modern political party, failure by the Protectionist Party to evolve organisationally in the face of new competitive challenges and its collapse prior to fusion.
Most G20 members continue to manage successfully the political process of keeping domestic protectionist pressures under control, despite a difficult environment for some of them where employment levels and new job opportunities are shrinking," it said in a report, a copy of which was obtained by Reuters.
GPCA secretary-general Dr Abdulwahab Al Sa'adoun said the association is concerned about the potential impact of these protectionist measures on the global petrochemical and chemical industry.
Summary: New Gulf initiative to fight protectionist measures against petrochemical exports from region
DUBAI, October 12 /PRNewswire/ -- Gulf Petrochemicals and Chemicals Association (GPCA), the regional umbrella organization of petrochemical and chemical producers in the region, has launched an initiative to challenge what it described as protectionist measures in the garb of anti-dumping procedures launched by China, India and the European Union (EU) against exports from countries in the region.
An outfit called the Global Trade Alert (GTA) has been at the forefront, raising alarm bells about what it calls "a protectionist juggernaut.
The strain of the crisis has led to controversial policy responses such as the French and German automotive bailouts, which appear protectionist to other countries - particularly those in Eastern Europe.
The conclusion of the Doha Round of free trade negotiations could play an important role in recovering from the global economic crisis and ending the use of restrictive protectionist measures, World Trade Organization chief Pascal Lamy said Monday.