Good morning to everyone, The subject of my presentation is “economic nationalism. ” My talk is divided in 6 parts: Firstly, IM giving you a short introduction of the newspaper “the economist” Secondly, IM going to talk about “what is economic nationalism and in which business sector does it play a big role. Thirdly, I’d like to show you some arguments which are given for nationalism After that, I tell you something about the development of world trade and which role does the US play in this context Finally, I’d like to give you three principles should be obeyed for a healthier development.
In my presentation I will regard to an article extracted from a British magazine: ћthe Economist” It is an English-language weekly news publication. The main attention of the reporting of the Economist lies in the areas of Politics, economy and finances, but also science, technology and art are treated. What is economic nationalism? In economic nationalism measures are taken to control and steering the domestic economy even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital.
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Economic nationalism may include such doctrines as protectionism, import substitution and quotas. The grip of nationalism is tightest in banking. Banks may feel safer retreating to their home markets, where they understand the risks and benefit from scale. Why governments do economic nationalism? In Greece police used tear gas to control farmers calling for more subsidies, around he world, workers are demanding help from the state. So, Governments protect goods and capital largely in order to protect Jobs.
Now, ill come to the next question. What can be read about trade: To answer this question I will quote from the text: QUOTE Text recite site the role of the US the development to world The U. S. Has a prototypical function. If the US, the champion of open markets is going alone, by appealing economic nationalism, they would send a disastrous signal to the rest of the world. American leadership is the only chance. The international economic system depends upon a guarantor, prepared to back it during crises..
Finally, I tell you the three principles should be obeyed for a healthier development and are named in the text. The First one is co-ordination especially in rescue packages The second one is forbearance. The Nations should cooperate even if some foreigners will benefit. The Third one is multilateral. The MIFF, development banks, the World Trade Organization could help by working together. Thank you for listening.. Are there any questions?