A column on barrons.com in 2019 observed, A decades long drive toward freer trade across borders has

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A column on barrons.com in 2019 observed, “A decades long drive toward freer trade across borders has begun to reverse. Globalization is being overwhelmed by populism, nationalism, and protectionism.” As an example, the column noted, “India just moved to limit foreign operators selling goods online.” 

a. What does the column mean by “protectionism”? 

b. Who in India would be likely to gain and who would be likely to lose if protectionism increases and globalization declines?

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Economics

ISBN: 9780135957554

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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