Beginning January 1, 2005 China lifted the import quotas and lowered tariffs on automobiles.This removal of the quotas and the lowering of tariffs is an example of
A)recalling the rule of protective domain.
B)reducing ethnocentrism.
C)enhancing domestic imperialism.
D)reducing protectionism.
E)reducing blocked currency.

Question

Quizplus · Accepted Answer

The removal of import quotas and lowering of tariffs on automobiles indicates a reduction in protectionism, which is the practice of shielding domestic industries from foreign competition through measures such as tariffs and import quotas. This move by China indicates a commitment to promoting free trade and opening up its markets to foreign competition.

Beginning January 1, 2005 China Lifted the Import Quotas and Lowered