What are beggar-thy-neighbour policies?
Beggar-thy-neighbour policies are economic policies that are designed to benefit a country at the expense of its trading partners. These policies often involve actions such as raising tariffs on imported goods, devaluing a country’s currency, or subsidizing domestic industries in order to make them more competitive.
Beggar-thy-neighbour policies can be motivated by a desire to protect domestic industries and jobs, or to promote economic growth. However, they can also lead to trade conflicts and disputes between countries and negatively impact the global economy.
One of the most well-known examples of beggar-thy-neighbour policies occurred during the Great Depression of the 1930s, when many countries implemented protectionist trade policies in an effort to boost their own economies. These policies, which included high tariffs and other trade barriers, were seen as a major factor in the deepening of the global economic crisis.
Today, beggar-thy-neighbour policies are generally seen as detrimental to the global trading system and are discouraged by international organizations such as the World Trade Organization (WTO). While some countries may still pursue these policies, they are often met with opposition from other countries and may be subject to trade disputes and sanctions.
Does China have beggar-thy-neighbour policy?
China has been accused of using beggar-thy-neighbour policies in the past, particularly in relation to its trade practices. Some critics have argued that China has used a range of tactics, such as subsidizing its own industries, manipulating its currency, and engaging in unfair trade practices, to gain an advantage over its trading partners.
However, it is important to note that China’s economic policies are complex and are driven by a variety of factors, including its own domestic economic priorities and the interests of its various stakeholders. It is not accurate to say that China has a blanket policy of beggar-thy-neighbour.
That being said, China has faced criticism and scrutiny from other countries and international organizations over its trade practices, and there have been a number of disputes and controversies related to issues such as intellectual property, subsidies, and market access. Some countries have also accused China of engaging in unfair trade practices, such as dumping cheap goods on foreign markets, and have imposed tariffs or other trade barriers in response.
China has also been accused of using its economic influence to pursue geopolitical goals, particularly in developing countries where it has invested heavily in infrastructure and other projects. Critics have argued that China’s “debt-trap diplomacy” could lead to economic dependence and could be used to extract strategic concessions from other countries. Again, it is important to note that these accusations are complex and multifaceted and cannot be reduced to a simple characterization of China as having a beggar-thy-neighbour policy.
