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protectionism
[pruh-tek-shuh-niz-uhm]
noun
Economics.the theory, practice, or system of fostering or developing domestic industries by protecting them from foreign competition through duties or quotas imposed on importations.
any program, policy, or system of laws that seeks to provide protection for property owners, wildlife, the environment, etc.
Other Word Forms
- protectionist noun
- protectionistic adjective
- antiprotectionist noun
Word History and Origins
Origin of protectionism1
Example Sentences
It was condemned by Beijing as "naked protectionism".
Where once Democrats were suspicious of free trade, today they embrace it as part of their criticism of the president’s protectionism.
South East Asian governments responded with a wave of protectionism, as local businesses demanded to be shielded from the impact of Chinese imports.
“If the Chinese government can usher in stimulus measures so big they can offset a lot of these protectionism policies, there is a chance that maybe they could narrowly escape the recession,” Liu said.
Trump is trying to create a chip industry through protectionism and isolation, when what allowed the chip industry to emerge throughout Asia is the opposite: collaboration in a globalised economy.
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