Protectionism easily explained (explainity® explainer video)

These days we frequently read business news headlines like: “The government is taking protectionist measures.” But what precisely does protectionism mean? And what is its connection with business?
You'll find some more information about the protectionism in this video. Check out our new explainity video clip.

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This explainer video was produced by explainity GmbH

[anujthapa]

So basically protectionism is an action take by a government to restrict international trade.it is done to protect local business or employement from foreign competition.certain methods such as increase in import tariff is adopted to benefit local business .

[alparslankorkmaz]

nicely explained. hi from Turkey not Drawland.

[loganwilcox]

Protectionism is helping yourself before helping others. Today, it is the populist rejection of globalism, corporatism, and neoliberalism.

[CADIPRATV]

So president must have protectionist policies for a certain time till his country gets to a certain level of prosperity, prepare his country for reduced tariffs then minimize protectionist policies so his countries companies can bring more money from abroad while having good relations with other countries.

[HC-ubpv]

I heard President Ridiculo ended up negotiating some much better deals for Drawland. The silent majority of all the citizens loved it and it was great for everyone.. so much so that he was even reelected.

[kafkaMt]

That is great! Thank you for that explanation, which leads me now with the next question:

The other extreme would be a country owned by the interest of foregin companies, incursioning in the politics that would benefit their trading and imports but not necesary having the citizens in mind... right?

If protectionism wouldn't exist, what would make companies respect the laws that protect the needs of the social wealth in that country?

because if is that so, the fear of Mr. Ridiculo is not so ridiculous...

This is a genuine question, since i am by no means an expert.

[mwufkuk]

In other words: protectionism is the right policy to adopt when your coutry experiences a trade deficit, without revenue... meaning it is dependant on foreign countries.
With protectionism you amplify your own production capability, make your coutry self sufficient and economically independent.
But the money created for boosting the economy also creates an economic bubble.
As the state it is then your duty to slowly open up the trading border in order to slowly make the bubble disappear.
In the end you come out a stronger economy.

[willievantee]

Really great video. Used it to teach my gr11 economics class. Thanks.

[buraktaskn]

Drawland's resemblance to Turkey distracted me a bit. For the sake of making Drawland more realistic, do not forget to add North Cyprus in your next drawing.

[elifozkaya]

Why did you use Turkey's shape and named it Drolland? Just curious.

[dittoking]

But can you not have competition within the homeland? And can't you just do this with certain industries such as manufactured goods rather than every aspect of the economy?

[rhinoryan]

why does this guy's voice sound like male siri

[drakkarleon]

drawland is certainly Turkey without European part

[janinemier]

Is Average Tariff a reliable measure of protectionism?

[paulbaskerville]

controlling trade so that not too much dept to other countries is better . most countries are in massive dept on all levels of government . u don't take into it about mass dumping of steel and countries that drop the value of there money .so that other countries local companies cant compete . then there is moral issues like slave labor sporting blood thirsty dictators .dept is bad if u cant pay it back .it is not free trade it is fare trade . if your in dose not equal your out some ones kids will pay for it .being self sufficient by growing bananas in the country .if u can keep the cost down makes u less vulnerable to demands of other countries.

[BorreLira]

Venezuela and Cuba explained in 4 minutes! 👍

[chun-li]

Drolland looks like Turkey and the other two like Germany and Russia. 😄

[Nashdaq]

You can't just say; "let's take the imaginary country" and put the map of Turkey. Be fucking respectful
1- It has a name
2- You did not add the European part of Turkey which makes me question that if you're being racist towards Turkey.

[macavalli]

This Is SOUTH AFRICA... I'm so sick of the ANCs incompetence

[mantonio]

Typical misrepresentation. Should be obvious to everyone in the language alone.