Import Substitution Quotes

The philosophy of protectionism is a philosophy of war. The wars of our age are not at variance with popular economic doctrines; they are, on the contrary, the inescapable result of a consistent application of these doctrines.

The philosophy of protectionism is a philosophy of war.

It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries.

It pains to see that some investors are importing raw commodities, although just on their door steps, similar produces are left to decay.

Protectionism is something that will hurt everybody, but especially the United States.

As we were all growing up, there used to be a very big mantra in India which was called 'export or perish.' There was a long period when we used to focus on import substitution.

Foreign trade can no longer be dealt with apart from other domestic economic policies and concerns. Governments often employ trade policies less for commercial ends than to achieve other goals- economic, political, and social.

Chinese mercantilism is not free trade, but it is far better than American militarism.

Import and substituting imports with domestic production are a big opportunity. With a devaluation of the rupee, imports get expensive, and for Indian manufacturers, this creates a huge opportunity.

It was good to launch the economy in the '50s. Japan did this; China did this; even South Korea did this. All the East Asians did this - import substitution. I think all countries followed import substitution in the '50s and in the '60s, but I think by the '70s, countries were getting out of that first phase of the strategy.

Our strategy should be based on indigenisation and import substitution. The government must provide opportunities for domestic companies to participate in sectors in which the country continues to depend on imports.

I think it was seen as a symptom that the Chinese leadership may be really scared about their economy.Why would you want to depend more on exports if you're a country that has a stated policy of relying less on exports and more on consumer spending, domestic spending?

Yesterday afternoon the Egyptian Minister came to bring me a gift from the first factory which had been opened in Egypt. They have always imported their linen and cotton material and for the first time they are actually making cotton and linen articles. It seemed almost incredible to me when one realizes how much cotton is grown there and that they had had no factory before for its manufacture into articles of everyday use.

Free trade agreements are never for one sector alone.

Petitions poured in upon Congress urging the imposition of discriminating duties that should encourage the production of needed things at home.

Tariff policy is no longer a question of raising revenue or protecting domestic manufacturing. It is the executive's instrument of foreign policy.

As regards this country, in which protection has always to some extent existed, it is the best customer that England ever had, and our demands upon her grow most steadily and regularly under protection.

My administration will follow two simple rules. Buy American and hire American.

Leaving the E.U. will enable the U.K. to undertake a major campaign for import substitution.

Let us come together and think of ways India does not have to import but we export to the world.

A key U.S. initiative in this trade war must be to develop reliable trading partners in the world.

I never was a free-trader. I never felt that we could ... do away with all protective devices, because we would have been flooded with imports which would have hurt our economy.

What protectionism teaches us, is to do to ourselves in time of peace what enemies seek to do to us in time of war.

A nation imports from a distance a manufactured commodity, which it is granted it could make as cheap, or cheaper, at home, were the manufacture introduced there. To introduce the manufacture is, however, too expensive a project to be carried into effect by any private individual. The whole society might do so, through the expenditure for a few years of a portion of its revenue, much less than what an equal number of years succeeding them will return to it in the diminished cost of the article.

We're going to bring our jobs back home.