Free Trade or protectionism?

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The EU is in a unique situation. They are 27 (or last I know) separate countries forming one economic and political Union. Its different from American, Japan etc as such where the nation is the economic union.

A protectionist bailout plan will effect the economy in one market - but the currency of the entire market. Free trade will effect currency and economy of the entire market.

I feel the EU should play the "EU vs World" game, which I think they did successfully till the economic crisis. Free trade within EU, protectionism from the outside world. They ought to stick together and find the solution that improves the whole economy.

However, this may be the rest of the worlds opportunity for the disintegration of the EU economic and monetary system. No more Europower.

it depends on the situation and conditions of the country you are talking about whether it will be better for them to do free trade or protectionism. sometimes even the country imposed free trades to certain goods and sometimes they imposed protectionism to certain goods. even though now big countries such as united states are trying to avoid protectionism simply because they could not gain much advantages in trades by doing protectionism, however if we see the history of the united states they were doing protectionism to their industries during their early history because they could not compete with european industries especially the british.

its kind of hypocrisy on the western part!

when india does, its called outdated and closed economy and when they do its ok!

It is not the time of developing in economy for major country. Major country of the world are now developed. In this time we can only talk about barrier on free trade but is not possible now in the age of imperialism.

true it's a kind of hypocrisy on the western part. the united states for example is a very big supporter of free trade but even though they are a very big supporter of free trade they limit they number of japanese cars to enter to the american's market. this is because japanese cars are much cheaper and better in qualities comparing to american's cars and therefore they need to put protectionism in their cars because the sales are dropping high when the japanese cars were booming in america. the same applies to the western european countries or the european union countries. the european union countries are big supporters of free trade but they limit the number of cars entering the european union countries from japan, and clothes and textile from china and india. australia is a very big supporter of free trade but they even until now still imposed a very strong and strict protections to their agricultural and fish industries.

Edited by raj5000 - 02 March 2009 at 9:31pm