Chapter 6: Globalization And Protectionism

Front 1

Protectionism

Back 1

Government Policies to reduce or block imports

Front 2

Tariffs

Back 2

Taxes imposed on imported products

Front 3

Import Quotas

Back 3

Numerical Numerical limitations on the quantity of products than can be imported.

Front 4

Nontariff Barriers

Back 4

All the ways a nation can draw up rules, regulations, inspections, and paperwork to make it more difficult to import products.

Front 5

Infant Industry Arguments

Back 5

An argument to block imports for a short time, to give the infant industry time to mature, before eventually it starts to competing on equal terms in the global economy.

Front 6

Dumping

Back 6

Selling internationally traded goods below their cost of production.

Front 7

Anti-dumping laws

Back 7

LAws that block imports sold below the cost of production and impose tariffs that would increase the price of these imports to reflect their cost of production.

Front 8

Race to the Bottom

Back 8

When production locates in countries with the lowest environmental (and other) standards, putting pressure on all countries to reduce their environmental (and other) standards.