Hey there! 👋 Have you ever wondered how countries buy and sell things from each other? It’s called trade! 🌐
Recently, a professor named Carl Fey from BI Norwegian Business School talked about something important. He says that the United States is becoming more “protectionist.” But what does that mean?
Well, being protectionist means a country tries to protect its own businesses. It might make it harder for goods from other countries to be sold there by adding extra taxes or rules. 🛡️
On the other hand, China is working hard to promote free trade. Free trade means countries can trade with each other easily, without lots of barriers. It’s like sharing without too many rules! 🤝
Professor Fey thinks that the US becoming more protectionist is a big concern for the world economy’s future. 🌎 He worries that if countries stop trading freely, it could make things more expensive and slow down progress for everyone.
What do you think? Should countries keep trade open and free, or should they protect their own industries more? 🤔
Reference(s):
Professor: 'Protectionist' US biggest concern for world economy
cgtn.com
