What Is a Policy Cycle? First, what is a policy? We know that a policy and procedure are two distinct entities. According to the dictionary, policy is a âdefinite course or method of action selected from alternatives and in light of given conditions to guide and determine present and future decisionsâ.
Steel and metal industry. 1  The German steel and metal industry includes the steel, non-ferrous metals, foundry and steel and metal working industries. 2  As a result of its innovative capabilities and high-quality products, the German steel industry has established itself as a leading producer in the European Union.
From the passage of the Tariff of 1816 to WWII, protectionism was the policy of the United States, switching to free trade only in 1945, when most of its industrial competitors had been wiped out by the war. In the late 19th Century, Germany, too, used protectionist measures to grow its industry.