Beggar-thy-neighbor

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 ?
If Trump moves forward with unilateral trade sanctions, a trade war is likely to ensue: one where there will be few winners and the world could move toward beggar-thy-neighbor protectionism of the kind last seen in the 1930s.
Small countries are the sole exception, because they can pursue beggar-thy-neighbor policies aimed at poaching corporations from their neighbors.
He said resisting the beggar-thy-neighbor mentality is a lesson the world learned from the global financial crisis.
The purpose of this system was to prevent the beggar-thy-neighbor exchange rate policies that deepened and prolonged the Great Depression and to foster close international relationships that, among other benefits, can be called upon in times of crisis.
They pursue self-serving, beggar-thy-neighbor migration policies-such as building border fences-that further fragment the Union, seriously damage member states, and subvert global human-rights standards.
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.
These should include looser fiscal constraints; more investment; an end to beggar-thy-neighbor wage cuts; and lower taxes on labor.
In fact, they outlaw true insurance for medical care and force most people into a beggar-thy-neighbor prepayment scheme.
amp;nbsp; "[We] emphasized the importance of pushing back against either protectionism or competitive currency devaluations or the kinds of beggar-thy-neighbor strategies that all too often lead to everyone being worse off.
When states like Texas eliminate corporate income taxes, are they engaged in beggar-thy-neighbor politics against fellow states of the Union?
A loss of trust - or worse yet, a beggar-thy-neighbor feud - could damage the prospects for intergovernmental cooperation on a variety of issues, ranging from land-use plans to a land swap to accommodate an expanded Farmers' Market and new county courthouse.
By "sustainable" we mean innovation focused on boosting productivity and adding to the global stock of knowledge, not beggar-thy-neighbor innovation.