Evaluate the extent to which protectionism may be justified in international trade
how stakeholders will be effected
my opinion
In my point of view, protectionism is important to “preserve” the goods of one’s own country. Of course protectionism can anti-globalize a country so it is crucial to not to over protect. After all, it is not always good to expose one’s country to the outside forces. In history, according to what happened to East Asian countries such as Korea, Japan, and China, defending one’s own country from other countries help. Countries can develop their own ways of producing goods and services in creative ways without others help. Imposing more tariffs on imports or increasing import quotas would be part of protectionism.
At the same time, if countries conceal themselves completely from the outside world, it would be detrimental for them. To maintain favorable relationships with other countries, they should open themselves to others to a certain degree. For example, North Korea’s concealment from other countries are mostly bringing negative consequences. The nation are starving to death and international hostilities are increasing and increasing due to lack of communication.
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Evaluate the extent to which protectionism may be justified in international trade how stakeholders will be effected my opinion In my point of view, protectionism is important to “preserve” the goods of one’s own country. Of course protectionism can anti-globalize a country so it is crucial to not to over protect. After all, it is not always good to expose one’s country to the outside forces. In history, according to what happened to East Asian countries such as Korea, Japan, and China, defending one’s own country from other countries help. Countries can develop their own ways of producing goods and services in creative ways without others help. Imposing more tariffs on imports or increasing import quotas would be part of protectionism. At the same time, if countries conceal themselves completely from the outside world, it would be detrimental for them. To maintain favorable relationships with other countries, they should open themselves to others to a certain degree. For example, North Korea’s concealment from other countries are mostly bringing negative consequences. The nation are starving to death and international hostilities are increasing and increasing due to lack of communication.
