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)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 lowering of tariffs on automobiles indicates a reduction in protectionism, which is the policy of protecting a country's domestic industries from foreign competition by taxing imports. By removing these trade barriers, China is opening itself up to international competition and free trade.

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