Final answer:
Protectionism has declined over the last 50 years due to dramatic reductions in government-imposed trade barriers such as tariffs, import quotas, and nontariff barriers, as well as technological advancements in transportation, communication, and information management that have enhanced international trade.
Step-by-step explanation:
Decline in Protectionism Over the Past 50 Years
Protectionism, which includes government-created barriers such as tariffs, import quotas, and nontariff barriers, has seen a significant decline over the past half-century.
The average tariff level among industrialized countries plummeted from 40% in 1946 to less than 5% by 1990, following years of negotiations under the General Agreement on Tariffs and Trade (GATT). In the U.S., tariffs reduced to less than 2% by the end of the century.
This dramatic reduction occurred in part because of comprehensive trade negotiations that expanded beyond just tariff reduction given their significant decline.
Additionally, technological advancements in areas such as transportation, communication, and information management have facilitated and accelerated international trade. These developments have resulted in a powerful increase in international trade over the last few decades, with more efficient logistics and streamlined operations across borders.
The decline of protectionism over the past 50 years can be attributed to multiple factors. Firstly, there has been a significant reduction in government-created barriers to trade such as tariffs, import quotas, and nontariff barriers. This has been a result of negotiations like the General Agreement on Tariffs and Trade (GATT), which aimed to lower tariffs and promote free trade.
Secondly, technological advancements in transportation, communication, and information management have made international trade easier and more accessible. These advancements have allowed businesses to efficiently conduct trade across borders, leading to an increase in international trade and a decline in protectionism.
In conclusion, the decline of protectionism can be attributed to the reduction of government-created barriers to trade and advancements in technology that have facilitated international trade.