Protectionism has been a hot topic in global trade circles lately, with tariffs taking center stage. For over two months, we've seen the US impose aggressive tariff measures against its global partners, throwing a wrench into the well-oiled global industrial chain. ⚠️
Even though these moves are aimed at reshaping trade rules, weaponizing tariffs as a negotiation tool can backfire by upsetting the balance of free trade and fair competition. In simple terms, trying to shield one market might end up hurting everyone involved.
This impact is not just for economists – it trickles down to everyday life. Think about the tech gadgets you use, or how a startup in vibrant cities like Mumbai, Jakarta, or Manila might face delays and rising costs due to disrupted supply chains. 💡
For young professionals and tech-savvy individuals across South and Southeast Asia, understanding these trends is essential. Global economic shifts can influence everything from the price of your next smartphone to job opportunities in fast-growing industries.
In the end, while protectionist policies might seem like a safeguard, they risk becoming a double-edged sword in our interconnected world.
Reference(s):
cgtn.com
