Trade barriers have primarily harmed East Asian economies by limiting growth by barring specialization. When countries impose tariffs, quotas, or other restrictions on trade, they prevent industries from capitalizing on their comparative advantages and specializing in production. This can lead to inefficiencies, reduced competitiveness, and slowed economic growth over time. While other responses touch on potential consequences of trade barriers, the most direct impact on economic growth in the context of trade is the limitation on specialization.
How have trade barriers harmed East Asian economies?
(1 point)
Responses
They have made countries dependent on imports.
They have made countries dependent on imports.
They have limited growth by barring specialization.
They have limited growth by barring specialization.
They have discouraged education and training of the workforce.
They have discouraged education and training of the workforce.
They limit government investments in industry and farming.
1 answer