Comments by "Nigel Johnson" (@nigeljohnson9820) on "Sweden has taken over the EU Council presidency. Here are its priorities." video.

  1. Protectionism is given an underserved bad name. During an aircraft emergency, when the oxygen masks fall down from the overhead storage, , passengers are advised to put on their own masks before helping others. This is a form of protectionism. It's about saving yourself, in order to save others. In economic terms, it means protection of your home producers and manufactures. It is one of the reasons why globalisation is flawed. International traded developed from the sale of surplus production, in order to make up for deficiencies that result from the limitations of geography and/or geology. Distortions in trade and wealth distribution occurs when the above simple principle is ignored, or becomes corrupted.
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