Now, the urge to protect domestic industry is well-intentioned, seems benign and has a long history.

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Beijing keeps the yuan, as the renminbi is informally known, artificially low both to give its exporters substantial price advantages and to protect its domestic industry from imports.

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This would have prevented the President from agreeing any changes in the anti-dumping laws - used by the US recently to introduce big increases in steel tariffs recently to protect its domestic industry.

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The authorities also limit the number of imported films that can be screened in cinemas, partly to protect the domestic entertainment industry.

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China's Defense Ministry on Thursday called the accusations faulty and said they underestimated both the Pentagon's ability to protect its secrets, and the capabilities of China's domestic defense industry.

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Making matters worse, the Joint Committee of Taxation issued a report stating that in order to pay for a reduction of the top corporate rate to 28%, Congress would have to eliminate virtually all corporate tax deductions, including those for domestic manufacturing, the very industry President Obama aims to protect with the reduction in rates.

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Industry leaders and labor groups want politicians to support policies that protect domestic export-driven businesses, and pundits point out that imports lead to trade deficits.

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The weak industry conditions saw governments in Europe and North America standing up to protect their domestic solar industries from cheap Chinese imports.

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