Answer to Question #54535 in Geography for Tan Ser Ying

Question

Home Country (Malaysia)
(1) define the home country Malaysia
(2) define the protectionism (Malaysia)
(i) actual situation
(ii) actual situation
(iii) defence industries

Answer 1

(1) Malaysia is a federal constitutional monarchy located in Southeast Asia.
(2) Protectionism is the economic policy of restraining trade between states (countries) through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow (according to proponents) fair competition between imports and goods and services produced domestically.
Asean countries must allow more foreign investments with their peers for Asean Economic Community (AEC) to become a reality, with protectionism being one of the biggest stumbling blocks. Most of Asean countries are seen to be afraid to open up their market fast as they want to protect their local interest.