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Explain how the five main policy responses to deteriorating international competitiveness work

Business

Explain how the five main policy responses to deteriorating international competitiveness work.

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The concept that you require in your argument is some of the policies that are being adopted by different countries that lead to a reduction in the competitiveness of work. The argument can be briefly explained for clarification from the following points:

  • Trade restrictions imposed in order to protect local industries (creates a monopoly because competition does not reduce competitiveness)
  • Economic sanctions imposed on certain countries cut them off, meaning that they can no longer compete internationally.
  • Policies of Bias when it comes to offering financial assistance (favoring others making them more competent than others)
  • Poor or bad foreign policies that have led to war in many countries disrupt business activities
  • Unfair resource allocation policies have crippled many countries.

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