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> If countries engage in protectionism unilaterally, they are predominantly harming their own consumers and undermining competition of their own businesses. Th
by rodgerd 8y ago
> If countries engage in protectionism unilaterally, they are predominantly harming their own consumers and undermining competition of their own businesses.
That must be why economies such as China, Japan, and South Korea stayed economic basket cases in the late 20th century. Because of their protectionism.
- ekianjo 8y agoJapan is definitely harming its own citizens since they have to pay high price for about everything compared to the standards of about every other country out there. When something is too expensive you dont buy it anymore and it reduces internal growth.