Which of the following are examples of neo-protectionism measures adopted by an economy?

  1. Import and Export quotas
  2. Increase in domestic Subsidies
  3. Ban on Outsourcing
  4. Pre shipment inspections

  Select the correct option from codes given below:

Answer: [D] 1, 2, 3 & 4

All of the above are examples of neo-protectionism measures adopted by an economy to impede free trade in an economy. Neo-protectionism includes Non-Tariff Trade Barriers (NTBs) that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. These barriers include- Import quotas, subsidies, customs delays, technical barriers, or other systems for preventing or impeding trade like import licensing, pre shipment inspections and rules for valuation of goods at customs.

This question is a part of GKToday's Integrated IAS General Studies Module