Economics · International Trade
The rapid surge in global trade protectionist measures, often referred to as 'Globalisation in reverse gear', is primarily characterized by which of the following policy shifts?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Expansion of the World Trade Organisation's (WTO) role in dispute resolution.
- 2Harmonization of global standards and removal of non-tariff barriers.
- 3Withdrawal from bilateral trade agreements and implementation of high import tariffs/quotas.✓
- 4Increase in Foreign Direct Investments (FDIs) and reduction in tariffs.
Correct answer
Withdrawal from bilateral trade agreements and implementation of high import tariffs/quotas.
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