East Asian nations have imposed tariffs and other trade barriers to protect their industries, but these barriers have slowed economic growth.
While protectionist measures can provide short-term support to local businesses and industries, they often lead to reduced competition, higher prices for consumers, and inefficiencies in production. Over time, these factors can hinder overall economic development and innovation. It's also worth noting that such trade barriers can provoke retaliation from trading partners and lead to trade disputes, further impacting growth negatively.
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