published by the World Bank. Find the current level of World GDP in constant international dollars. Also,

find the GDP of Sri Lanka in constant international dollars. Once you have these two numbers, compute

the amount the additional increase in global incomes due to trade and compare that number to Sri

Lanka’s GDP.

Access for free at openstax.org
Globalization and Protectionism

20

FIGURE 20.1 Flat Screen Competition The market for flat-panel displays in the United States is huge. The

manufacturers of flat screens in the United States must compete against manufacturers from around the world.

(Credit: modification of “IMG_4674” by “Jemimus”/Flickr Creative Commons, CC BY 2.0)

CHAPTER OBJECTIVES

In this chapter, you will learn about:

• Protectionism: An Indirect Subsidy from Consumers to Producers

•

International Trade and Its Effects on Jobs, Wages, and Working Conditions

• Arguments in Support of Restricting Imports
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