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.
References in periodicals archive ?
Small countries are the sole exception, because they can pursue beggar-thy-neighbor policies aimed at poaching corporations from their neighbors.
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.
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.
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 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.
Because beggar-thy-neighbor policies create benefits by imposing costs on others, they, too, need to be regulated at the international level.
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.
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.
At the hearing, Snow said the United States opposes ''any beggar-thy-neighbor policies,'' reiterating that the U.
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.
5) As was widely recognized at the time, one cause of that global Depression was the beggar-thy-neighbor policies that the countries pursued.
What we have instead is a process driven by political gamesmanship that will devolve into beggar-thy-neighbor policies reminiscent of 18th-century mercantilism.