Question

One of the reasons portectionst measureas arose around the world

Answer 1

One of the reasons why protectionist pressures arose around the world during the 1980s was:A.the different ways many countries found to get around GATT regulations.B.the opening up of national markets to cheap products from China.C.the fall of the Soviet Union.D.the persistent trade lead taken by the United States.E.the Japanese failure in industries such as automobiles and semiconductors that strainedthe world trading system.During the 1980s and early 1990s, the world trading system erected by the GATT came understrain as pressures for greater protectionism increased around the world. One of the reasonsfor this was that many countries found ways to get around GATT regulations. Bilateralvoluntary export restraints, or VERs, circumvent GATT agreements, because neither theimporting country nor the exporting country complain to the GATT bureaucracy in Geneva—and without a complaint, the GATT bureaucracy can do nothing.