How have trade barriers harmed East Asian economies?
A.
They have made countries dependent on imports.
B.
They have limited growth by barring specialization.
C.
They have discouraged education and training of the workforce.
D.
They limit government investments in industry and farming.
Is D the correct answer
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The correct answer is B. Trade barriers have limited growth by barring specialization.
Trade barriers refer to various policies and restrictions set by governments to control the flow of goods and services across international borders. These barriers can take the form of tariffs, quotas, import licenses, and other trade restrictions.
In the case of East Asian economies, trade barriers have had a negative impact on their growth and development. One of the main consequences of trade barriers is the limitation on specialization. Specialization allows countries to focus on producing goods and services in which they have a comparative advantage, thereby maximizing productivity and efficiency.
By imposing trade barriers, East Asian economies have restricted their access to international markets and limited their ability to specialize in industries where they could excel. This has prevented them from fully leveraging their strengths and resources, leading to slower economic growth.
In addition, trade barriers can also have detrimental effects on consumers and businesses. They restrict access to a variety of imported goods, potentially reducing consumer choices and increasing prices. Moreover, trade barriers can lead to retaliation from other countries, creating trade wars and further disrupting international trade.
In summary, trade barriers have harmed East Asian economies by limiting their growth potential through the obstruction of specialization and access to international markets.