Brazil and the Auto Industry: Why Protectionism Does Not Work
- Author John Kraft
- Co-Author Arthur Kraft
- DOI https://ww
- Country : USA
- Subject : Business and Economics
Keywords : protectionism, tariffs, trade barriers, auto industry, Brazil.
Abstract
Brazil was an example of an unexpected outcome from the implementation of tariffs, trade barriers and the failure of protectionism. In the early part of this century Brazil was touted as a candidate for exceptional growth. However, Brazil’s protectionist policies doomed that prospect. High tariffs and a barrage of trade barriers reduced productivity, drove up costs for consumers, and restrained the growth of per capita gross domestic product (GDP). Manufacturing once the hallmark of the Brazilian economy dropped from 85% of GDP in the mid 1980’s to 14% of GDP in 2020
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