Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 59 , 05 January 2024
Open
Access | Article
An Exploration of the Driving Factors Behind Trade Protectionism
* Author to whom correspondence should be addressed.
Abstract
Given the thought experiment of David Friedman questioning the legitimacy of protectionism of international trade, this paper provides several determining factors contributing to protectionism in different dimensions: the profusion of infant industries lack the capability of achieving economics of scale, failing to compete directly with foreign mature sectors; indirect tax revenue like tariff could provide an extra fund for local government, and salvage of declining industries guarantees employment rate; and imposing protection policies could also be deems as unavoidable strategy when there is a politic competition. Overall, this paper outlines different logic reasonings behind the imposition of international trade protectionism policy. It is concluded that even though imposing international trade protectionist policy has detrimental impacts on both sides, there are still a bunch of ones exist served for political purposes other than economic considerations in the forms of trade war, high tariffs and certain quota , science and technology sanctions, etc.
Keywords
Infant industry, economic effect, economic nationalism, politic factors
References
1. P M Tillott (London: Victoria County History, 1961), “The later middle ages: Communications, markets and merchants,” 2023.
2. “The later middle ages: Communications, markets and merchants,” in A History of the County of York: the City of York, ed. P M Tillott (London: Victoria County History, 1961), 97-106. British History Online, accessed June 19, 2023, http://www.british-history.ac.uk/vch/yorks/city-of-york/pp97-106.
3. Chang, H. J., & Kozul-Wright, R. (1994). Organizing development: comparing the national systems of entrepreneurship in Sweden and South Korea. The Journal of Development Studies, 30(4), 859-891.
4. Kicsi, R., & Buta, S. (2010). Protectionism and “Infant” Industries. Theoretical Approaches. Economics and Applied Informatics, 1, 173-180.
5. S Bureau of the Census, Statistical Abstract of the United States: 2010 (2010) Table 800.
6. Baldwin, R. E. (1969). The case against infant-industry tariff protection. Journal of political economy, 77(3), 295-305.
7. Kozul-Wright, R. (1995). The myth of Anglo-Saxon capitalism: reconstructing the history of the American state. The Role of the State in Economic Change, Clarendon Press, Oxford, 81-113.4
8. Reno, R. R., & McClay, B. (Eds.). (2015). Religion and the Social Sciences: Conversations with Robert Bellah and Christian Smith. Wipf and Stock Publishers.
9. Boylan, B.M., McBeath, J. & Wang, B. US–China Relations: Nationalism, the Trade War, and COVID-19. Fudan J. Hum. Soc. Sci. 14, 23–40 (2021). https://doi.org/10.1007/s40647-020-00302-6.
10. National Association of Manufacturers, https://www.nam.org/2019-2nd-quarter-manufacturers-outlook-survey-2/,2023.
11. Li, M., Zhang, W., & Hart, C. (2018). What Have We Learned from China’s Past Trade Retaliation Strategies? Choices, 33(2), 1–8. http://www.jstor.org/stable/26487436.
12. https://www.huawei.com/en/annual-report/2020
13. Kshetri, N. (2023). The Economics of Chip War: China’s Struggle to Develop the Semiconductor Industry. Computer, 56(6), 101-106.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-209-1
- ISBN (Online)
- 978-1-83558-210-7
- Published Date
- 05 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/59/20231081
- Copyright
- 05 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited