The Trade Wars and Beyond!
The world seems to have come full circle w.r.t. globalization with the increase in protectionist policies getting formed in many countries. With the greatest consumer on the planet now introducing heavy tariffs on outside goods, we may be looking at a fundamental shift in global trade and finance. India has been among the greatest beneficiaries of the globalization over past few decades. All the major countries have treated us with soft glove despite our unfair practice of direct and Indirect barriers in world trade. The U.S. imposing high tariffs on all countries including India, may be a good opportunity for self-reflection and future planning. In an in an ideal world, there should be absolute cross boarder free trade among individuals or firms (except for any defense or related items). But world was never quite there. Even at the height of globalization, various countries have tried to protect certain domestic pr...