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.

Beggar-Thy-Neighbor

A protectionist policy involving the devaluation of one's currency and the construction of tariffs barriers on other countries. The goal of a beggar-thy-neighbor policy is to increase demand for a country's exports (by devaluing the currency and making a country's goods less expensive in other countries) while also reducing demand for the countries imports (by making them more expensive through the tariff barriers). A form of this policy, notably the tariff barrier, was implemented at the beginning of the Great Depression with almost no success. A beggar-thy-neighbor policy in the United States caused other countries to follow suit, resulting in a massive decrease in international trade. This made the Depression worse. See also: Smoot-Hawley Act.
References in periodicals archive ?
This has central bankers across the G-7 very nervous as 'beggar thy neighbor' currency devaluations akin to the 1930s begin to take shape.
* Hongbin Cai and Yuyu Chen, Graduate School of Management, Peking University, "Beggar Thy Neighbor: Problem of River Commons in China"
If experiences during the Great Depression are any guide, protectionism and "beggar thy neighbor" agendas in especially stagnant economies could result.
At most this is a beggar thy neighbor strategy, with a low local income multiplier.
"We should not have policies of beggar thy neighbor," as one minister said earlier.
Geisst blandly announces that "No one today will agree with the Scholastics that interest is inherently unjust and should be banned, except those in the Islamic world." Yet any attentive reader of Beggar Thy Neighbor will conclude exactly that.
The only members of the Group of 20 biggest economies that are not heavily involved in the "beggar thy neighbor" trade distortions are commodity giants Saudi Arabia, Australia and Canada, the report said.
When the largest two economies in the world engage in a "beggar thy neighbor" trade dispute, the world suffers the consequences.
This is the reason why such moves are referred to as beggar-thy-neighbor policies (Beggar Thy Neighbor, May 20, 2013).
Beggar Thy Neighbor: A History of Usury and Debt, by Charles R.
I am concerned that as these new hospital beds are ready to open, and they all won't be ready at once, each hospital will turn to the tried and true staffing method of "beggar thy neighbors" (recruiting nurses from nearby hospitals), especially Columbia's neighboring smaller community hospitals in Camden, Winnsboro, Orangeburg, and Newberry.