Protectionism: A rising trend - Seeker's Thoughts

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Thursday, 22 February 2018

Protectionism: A rising trend

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Introduction- In the era of 'globalisation', a sudden change in trend is to be noticed. Populism which impacts upon the political narratives- supports closed borders.
America, West Asia, Australia  and Europe all countries have been indulged into practicing the 'protectionism' in different ways.
Reasons for increase in protectism- The globalisation opened the door of wealthy and developed nation for developing nations, least developed economies and island nations.
   Wealth distribution from developed nation to developing nation in the form of remittances occurred.
   Globalisation lead to huge migration from developing nations to developed nations. These migrants contributed in the economy but some how rising population of migrants lead to unemployment in nations.
   Nations faced crimes specially Europe where migrants from troubled zones of Syria, Iraq and Afghanistan were alien to the freedom the women enjoyed in Europe and in other developed economies.
The rise in hate against migrants due to above factors gave a rise in popular idea of closing doors of nations and restricting the immigrants policies.
Negative impact of Protectionism: one among the leading cause of the world war 2 was protectionism.
Due to globalisation there has been an immense amount of reduction in poverty. The rising trend may lead the world again into trouble where unequal distribution of wealth leads to chaos.
Protectionism may create a blocking in trade which again may lead the economic down collectively.
Poor countries may take years to come out of poverty and hunger and disease will prevail.
Sustainable development goals will be hard to achieve.
A way ahead : population growth and lack of resources have triggered migration. Developed countries have suffered problems like unemployment etc, yet there can be sound balance between accepting migrants as well as protecting the interest of their people. The equation should not end into extreme as in long run  closed borders will bring chaos.