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neomercantilism
Neomercantilism is a policy regime that encourages exports, discourages imports, controls capital movement, and centralises currency decisions in the hands of a central government. The objective of neo-mercantilist policies is to increase the level of foreign reserves held by the government, allowing more effective monetary policy and fiscal policy.
This is generally believed to come at the cost of lower standards of living than an open economy would bring at the same time, but offers the advantages to the government in question of having greater autonomy and control. China, Taiwan, Japan, South Korea and Singapore have been described as neo-mercantilist. It is called "neo-" because of the change in emphasis from classical mercantilism on military development, to economic development.
Its policy recommendations sometimes echo the mercantilism of the early modern period. These are generally protectionist measures in the form of high tariffs and other import restrictions to protect domestic industries combined with government intervention to promote industrial growth, especially manufacturing. At its simplest level, it proposes that economic independence and self-sufficiency are legitimate objectives for a nation to pursue, and systems of protection are justified to allow the nation to develop its industrial and commercial infrastructure to the point where it can compete on equal terms in international trade. In macro-economic terms, it emphasises a fixed currency and autonomy over monetary policy over capital mobility.
==History==
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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