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Protectionism and Trade Liberalisation - Mind Map
Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.
View larger version of the mind map.
- Protectionism
- Tariffs
- Quotas
- Non-Tariff Barriers
- Rules
- Regulations
- Voluntary Export Restraints (VERs)
- Legislation
- Exacting Standards or Specifications
- Reasons:
- Protect domestic industries
- Protect domestic employment
- Strategic reasons
- Political pressures
- Protect culture?
- Prevent 'Dumping'
- Trade Liberalisation
- Brings the benefits of specialisation
- Comparative Advantage
- Allows developing countries access to markets
- Encourages international competition and efficiency
- Encourages freer movement of resources
- Brings the benefits of market forces
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