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what is the emerging industry argument based on? write limitations also

what is the emerging industry argument based on? write limitations also

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Restructured or new industries which are growing at very fast pace are the emerging industries. They have come into market because consumers wanted some change and for replacing older technologies with new and advanced technology. The emerging industry argument is based on trade protectionism. These industries are new and they lack economies of scale. Therefore, they need to be protected. On the other hand, due to too much protection, industries would not become efficient. Also, it is very difficult to withdraw protection once it is provided.

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