https://padlet.com/anm/q5c64w62nhpc See if you can look at the unit in Teamie and then find articles or resources which support arguments for less international trade and greater protectionism in goods and services. en-us 2018-02-23 00:58:49 UTC 2018-02-23 00:58:50 UTC hello@padlet.com https://padletuploads.blob.core.windows.net/aws/20608927/227574ec2cb00b01b13ba8dc3ecfa4f0/1000509261001_2008586720001_BIO_Barack_Obama_SF_FIX_Retry1_jpgda_1.jpg https://padlet.com/anm/q5c64w62nhpc/wish/234541465 Protecting the economy from low cost labour. Economies should be protected from imports that are produced in countries where the cost of labour is very low (lower prices, higher demand). 

US 2004 wage prices much higher for ship building compared to China and South Korea ]]> 2018-02-23 00:58:50 UTC https://padlet.com/anm/q5c64w62nhpc/wish/234541465 https://padlet.com/anm/q5c64w62nhpc/wish/234541467 Countries which have an excess of certain output can "Dump" goods upon other countries. An example of this is the allegations experienced by China for Dumping Manufacturing good s in India.]]> 2018-02-23 00:58:50 UTC https://padlet.com/anm/q5c64w62nhpc/wish/234541467 https://padlet.com/anm/q5c64w62nhpc/wish/234541468 Protecting Infant Industries - Allows new and rising industries to expand and invest in real/human capital, developing new capabilities/skills. Infant industries involving new technology are given the chance to develop, grow and become more competitive. ]]> 2018-02-23 00:58:50 UTC https://padlet.com/anm/q5c64w62nhpc/wish/234541468 https://padlet.com/anm/q5c64w62nhpc/wish/234541469 If a crisis hits a country (e.g. a world war), then trade boundaries are likely to close. If this happens, a country will have to be completely self-reliant. Therefore, countries should produce a little bit of everything as backup. For example, Japan produces electronics as well as rice.]]> 2018-02-23 00:58:50 UTC https://padlet.com/anm/q5c64w62nhpc/wish/234541469 https://padlet.com/anm/q5c64w62nhpc/wish/234541470 Protects domestic business from foreign competition; imports will decrease and thus demand for domestically produced goods will increase. For example, Japan introduced tariff for imported rice, which raised the demand for domestic rice.

]]> 2018-02-23 00:58:50 UTC https://padlet.com/anm/q5c64w62nhpc/wish/234541470 https://padlet.com/anm/q5c64w62nhpc/wish/234541471 Protectionism can be used as a political tool that allows a country to choose who they want to trade with. They can open trade barriers in favour of their allies and close them to rivals. 

Example: Embargo on Cuban goods in the US. ]]> 2018-02-23 00:58:50 UTC https://padlet.com/anm/q5c64w62nhpc/wish/234541471 koo6717 https://padlet.com/anm/q5c64w62nhpc/wish/234541472 Protectionism discourages over-specialisation (risky) and also protects domestic businesses (Japan with 780% rice tariff, and subsidizing domestic farmers)

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