Mises Wire
Author:
Germinal G. Van
Online Publish Date:
period, most of the African countries which had opted for socialism as their economic system also adopted protectionism as an economic measure to favor certain of a country. Figure 1: Tanzania Major Export Destinations (2016) Source: Trading Economics. “Other” includes some African countries such as Rwanda and the Democratic to the impoverishment of Africans. Protectionism also negatively affects the growth of new industries. In fact, the protection of an infant industry may actually