The topic for discussion in Management case is atomic number 18 protectionist policies beneficial to business? In this case Ha-Joon Chang supports the statement that protectionist policies solve business in poor countries. Robert Krol disagrees with the statement by earn examples of the effect of interchange on employment and wages and he concludes that an overall benefit from protectionist policies overcomes their negative effects. I agree with Robert Krol that world(prenominal) move around is more beneficial than the Protectionist Policies. Americas trade with the respire of the world increased after World state of warfare II from 9.2 percent in 1960 to 28.6 percent in 2007. This benefited the fall in States and its trading partners by increasing the standard of living, lower prices for consumers, and exchange efficiency in production. Comparative advantage is the main basis of International trade. Main differences in production costs transmit lead to trading between countries. The country with more ingenious effort produces goods with sophisticated machinery with low cost and the country with advertise produces more manufacturing goods which require more manual power.
The exchange of these goods (trade) intestine movement less expensive to both the countries to exchange their cozy resources. Â muckle allows countries to import products that have wise technologies which are not produced in the home country. Example for trade restriction is lacquer during its too soon 1850s had almost no economic or cultural contact lens with other countries. After that it sign(a) a treaty with joined States which turned the country from a no-trade to a free trade country in septenary years.! After that by inauguration its economy to rest of the world, it was equal to import goods, new technologies and new production methods that promoted for a stiff growth of the country and higher(prenominal) living standards of people.If you want to get a full essay, baffle it on our website: OrderEssay.net
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