Phase IFoundation
Background
Overview
Understanding global economic dynamics, impact on India's trade policy, supply chains, and international relations. Relevant for GS2 (IR) and GS3 (Economy).
Protectionism refers to government policies that restrict international trade to help domestic industries, often through tariffs, import quotas, or subsidies. Trade wars occur when countries impose such barriers in response to similar actions by their trading partners, leading to a cycle of escalation that can disrupt global supply chains and economic stability.