What happens when national goverments restrict their domestic economies from open  foreign trade?
403181
It limits competition. Meaning people might have to pay more for less, because another country make the cheaper and better version of the product. Although it is used to help support the domestic economy.
1106430
I can't help with the quote, but...\n\nQuotas on broadcasting like what you've described are really nothing more than a crude form of protectionism.  Normally, when an economist talks about protectionism, he's thinking of trade barriers for foods or industrial products.  Here, however, a law has apparently been created to limit the opportunity for TV stations in Australia to import more than a certain percentage of foreign TV shows for broadcast.  In essence, this provides the same outcome as any other form of trade barriers.\n\nTrade barriers affect an economy in a few ways.  First, they may reduce the opportunity of the country's citizens to access the best possible products.  If indeed the products produced locally are not as high quality (or more expensive for the same quality), then the local buyers are paying more for less.  Furthermore, protections coddle the local industry, and cushion it from the need to compete.  This allows the local industry to continue to operate without keeping up with the highest standards of quality.  It safeguards its ability to deteriorate without penalty.  Finally, protectionism tends to be reciprocal.  If one nation restricts the entry of foreign goods, the nation facing the restrictions may retaliate with restrictions of its own, leading to a trade war.  While this last scenario may seem less likely in the case of TV programming, I'm not sure.  Perhaps another nation would be more likely to restrict Australian programming in their markets if they knew Australia was restricting their programming in Australia.  \n\nHope that helps.
389388
neoliberal policies are economic policies that are involved in our current economics. They stress as free of a market as possible, with as little government invention or government safety net programs as possible. Countries should deregulate industries that are public, they should also open themselves to as much foreign investment as possible. The role of transnational corporations is increased, as they are now able to trade at a competitve advantage in order to create more profit for their investors. Countries often lose portions of their soverignty as national policy is often dictated by Structural Adjustment Programs to eliminate debt many countries find themselves in. The neoliberal economics help to restablish a class divide between the corporate global elite and the essentially everyone else. The wealth gap increases, and locality is less important for investors. Now labor can be used offshore creating high profits, but causing low wages. Worker exploitation is at very high levels in poor countries.
1135051
As a far left liberal, I have always said free trade will only work when you impose labor laws on the companies going to other countries and you still provide incentives for countries to stay here. \n\nIf you don't do either, what results is huge amounts of companies going to a different country, exploiting the cheap labor with no labor laws to hender you from doing so, then paying no penalty for leaving this country. \n\nThe end result is both the USA and the country they went to losing... with the company only getting richer. \n\nIt is LONG OVERDUE to reverse things like NAFTA and CAFTA!
812071
cause the country would go broke.
969245
It's annoying, but I think it is probably only a temporary refusal.  The EU is gradually becoming a true single economy which will mean common taxation in all forms.  Economic theory suggests this outcome is pretty much inevitable - NAFTA, ASEAN and the EU will become the only three global economic entities and we will get cheap booze and fags through larger scale competition and common economic policy.\n\n'Course it will be at the expense of self-government ...
946025
look up the definitions:\ntariffs are monies a govenment charges on goods brought into another country.  \nQuotas set limits on how many goods can be imported or exported.
259207
no, this leads to hyperinflation and the currency becomes worthless. great examples can be found in former east germany, bolivia, etc.
779106
Basically, it prevents imports and exports brought in by sea.
165877
Mexico has a free market economy that recently entered the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is one-fourth that of the US; income distribution remains highly unequal. Trade with the US and Canada has tripled since the implementation of NAFTA in 1994. Mexico has 12 free trade agreements with over 40 countries including, Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan, putting more than 90% of trade under free trade agreements. The Fox administration is cognizant of the need to upgrade infrastructure, modernize the tax system and labor laws, and allow private investment in the energy sector, but has been unable to win the support of the opposition-led Congress. The next government that takes office in December 2006 will confront the same challenges of boosting economic growth, improving Mexico's international competitiveness, and reducing poverty.
221489
You're question is very interesting.  As you know we are in a globalized world.  This is not the first wave of globalization--it's the third.  The other waves happened centuries ago.  Anyway, because something is sold to someone living outside the borders of the US, doesn't necessarily mean that you will lose your freedoms.  They still have to operate under American law & standards here in the US.
903856
Mainly currency risk and sovereign trade deficit. Governments getting overthrown by Coup like in Thailand is also a risk. Communist countries can nationalize any industry.\n\nBy the way USA is at highest risk these days and many emerging markets are lower risk if you care to study them carefully. US dollar is declining against many currencies. So Fidelity in USA is higher risk than many are aware of.
382550
To a degree yes, particularly in the case of China. Considering they have been taking advantage of us for years, we should impose trade restrictions on chinese goods, this could either include quotas or tariffs. However, with the advent of the WTO it has become more difficult to unilaterally impose trade barriers. Also, on the domestic front, we should invest in our industries, such as autos, steel, consumer goods, etc. This would provide jobs and also reduce the demand for foreign goods. We could make these industries more competitive, by investing in automation and reducing labor intensive activities. Eventually, countries like China would adjust their policies to eliminate our trade barriers, by then either we would have become more self-sufficent or the importation of goods would have stabilized. An another note, we should press that markets be opened to our goods, it is extremely unfair that other countries take advantage of our open markets while they close their markets to our goods, one prime example is Japan.
727245
Although very unlikely but if it happens it will be due to GLOBALIZATION and will be directed against its supporters and only after the system collapsed.
845821
Once the military might of the USA is reduced, its dominance in the international trade and the Rule of Dollar as an international currency may also get affected. The current conflict only reflects the inter-connectivity between the military might and the international economic scenario. Coming days are very dicey and  decisive for the whole world.
755414
No it will not.\nCurrencies go up and down due to various economic indicators and not due to political changes.
1187533
Corruption among the government leaders. Lack of government trade laws that can severely destroy your business in an instant.