Why Protecting Too Much Can Harm Global Trade 🌐
Hey there! Have you ever traded toys or cards with your friends? Imagine if one day, everyone decided to keep their toys to themselves and not trade anymore. That would be a bummer, right?
This is kind of what happens when countries practice something called protectionism. Let’s dive in and see why some experts think it’s not the best idea!
What is Protectionism? 🛡️
Protectionism is when a country tries to protect its own businesses by making it harder for other countries to sell products there. They might add extra taxes (called tariffs) on goods from other places or set rules that make it tricky for foreign products to come in.
Why Do Countries Do This? 🤔
Some countries think that by protecting their own businesses, they can help them grow stronger. It’s like giving local companies a helping hand so they can compete better.
But There’s a Catch… 🪤
When countries make it harder to trade, it can cause problems! Goods might become more expensive, and people have fewer choices of things to buy. Other countries might also start protecting themselves, too. This can lead to less trading overall, which isn’t great for anyone.
What Do Experts Say? 🧑🏫
At the World Economic Forum (WEF), big thinkers and leaders from around the world get together to talk about important issues. Many of them are saying that protectionism can harm global trade patterns. This means that the way countries buy and sell things from each other could be negatively affected. And that’s not good for the global economy!
Why is Global Trade Important? 🌍
Global trade allows countries to get things they might not be able to produce themselves. It also helps countries work together and can make things cheaper for everyone. Imagine getting cool gadgets or yummy snacks from other parts of the world!
What Can We Do? 🙌
By understanding the importance of trading fairly and keeping markets open, countries can help each other grow and prosper. It’s like sharing and playing nicely on a global scale!
So next time you trade with your friends, remember how awesome it is to share and exchange. The same goes for countries around the world!
Reference(s):
cgtn.com
