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

Question

Quizplus · Accepted Answer

The removal of import quotas and reduction of tariffs on automobiles is an instance of reducing protectionism. Protectionism refers to measures taken by a country to protect domestic industries and businesses from foreign competition, such as quotas and tariffs. By removing these barriers, China is making it easier for foreign businesses to import their products into the country, promoting more trade and potentially stimulating the domestic economy.

Beginning January 1, 2005, China Removed Import Quotas and Lowered