Final answer:
Protectionism is defended with arguments such as supporting infant industries until they grow competitive, guarding against foreign dumping practices, environmental concerns, and issues of national safety and security. However, these arguments often face scrutiny for their effectiveness and long-term impact.
Step-by-step explanation:
Common arguments often raised to present the case for protectionism include various economic and political reasons. One of the primary arguments is the infant industry argument, suggesting that emerging domestic industries should be protected from international competition until they become strong and self-sustainable. This approach sometimes results in successful industries, especially as seen in East Asia. However, more often than not, these industries fail to mature.
Another argument centers around anti-dumping, where protectionism is justified to prevent foreign producers from selling goods below cost to eliminate the competition, although this argument is sometimes viewed skeptically as a guise for protectionist measures. Finally, there are environmental concerns. Lower-income countries may prioritize immediate needs over environmental standards, so trade restrictions in favor of environmental protection seem impractical except in extreme cases. Moreover, arguments involving safety and security are also considered. The idea here is to avoid over-dependency on key imports that could leave a nation vulnerable if supply is cut off. Still, it may be wiser to strategically use foreign supplies and stockpile resources rather than impose strict trade restrictions.