Beggar-thy-neighbor

(redirected from Beggar-Thy-Neighbor Policies)

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.
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Small countries are the sole exception, because they can pursue beggar-thy-neighbor policies aimed at poaching corporations from their neighbors.
Why tax cuts for the rich solve nothing
Disparate tax rules among different countries have resulted in close to a zero-sum game for national governments, which are forced to pursue beggar-thy-neighbor policies to secure a bigger slice of a shrinking pie.
Idea of global governance
In the run-up to World War II, beggar-thy-neighbor policies and rampant protectionism ensued-with Britain leaving the gold standard in 1931 in response to a run on the pound.
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Above all, we need to avoid beggar-thy-neighbor policies, such as unconventional monetary policy or sustained exchange-rate intervention, that primarily induce capital outflows and competitive currency devaluations.
The global monetary non-system
The allies, particularly the United States and Great Britain, were determined that post-WWII international institutions would avoid the beggar-thy-neighbor policies of the 1930s.
Toward a global monetary order
Because beggar-thy-neighbor policies create benefits by imposing costs on others, they, too, need to be regulated at the international level.
Leaderless global governance
The IMF beggar-thy-neighbor policies continued to deepen public frustrations with an unpopular government in the country and gradually led the economy to a stage where it is virtually living on cash injections from international lenders and donors.
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leadership and responsible treatment of our currency's reserve role in the global economy by avoiding the disruptive, destabilizing, and ultimately destructive beggar-thy-neighbor policies witnessed in the last century.
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At the hearing, Snow said the United States opposes ''any beggar-thy-neighbor policies,'' reiterating that the U.
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Moreover, China is not by any stretch of the imagination a country that pursues beggar-thy-neighbor policies by keeping its own market closed to foreign goods and services.
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5) As was widely recognized at the time, one cause of that global Depression was the beggar-thy-neighbor policies that the countries pursued.
Beggar-thyself versus beggar-thy-neighbor policies: the dangers of intellectual incoherence in addressing the global financial crisis
What we have instead is a process driven by political gamesmanship that will devolve into beggar-thy-neighbor policies reminiscent of 18th-century mercantilism.
It's time to reconsider global climate change policy

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