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Reducing Protectionism for Free Trade?

Question

Analyse how a government could reduce protectionism and move towards free international trade.

Category:

CIE October/November 2023.

Preview Answer

To analyze how a government could reduce protectionism and move towards free international trade, several key approaches can be considered. Initially, governments can negotiate and promote free trade agreements with other countries, aiming to reduce tariffs and trade barriers. Secondly, implementing policies that promote competition and innovation within domestic industries can help increase efficiency and competitiveness on a global scale. Additionally, investing in infrastructure and technology to improve connectivity and facilitate trade can also aid in reducing protectionism. Furthermore, promoting education and skill development to enhance the capabilities of the workforce can contribute to a more competitive and open economy. Ultimately, a gradual and strategic approach that balances the interests of domestic industries with the benefits of free trade is essential for a successful transition away from protectionism.

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