Protectionism is an economic policy. It aims to shield domestic industries from foreign competition. Governments impose tariffs and quotas on imports. This can help local businesses thrive. However, it may lead to higher prices for consumers. Critics argue it stifles innovation. Supporters believe it preserves jobs. The balance between protectionism and free trade is a key debate in global economics.
Recent discussions at the climate conference in Baku brought into light tensions between climate objectives and trade practices. Countries like China and India raised concerns about the European...
