Which countries today still practice mercantilism?

Answer 1

The basic proposition of Mercantilism is that the state should aim to maximise it's wealth through one-way trade with other countries, maximising exports and keeping inports to a mimimum.

Whilst this theory originates in the 16th century and the theory of free trade followed it, it can be argued that the way in which most countries trade today is rooted in Mercantilism.

Despite the World Trade Organisation claiming non discrimination through the regulation of the 'most favoured nation.' Almost (if not all) every country within the WTO has signed a Regional Trade Agreement, so although they do not officially have barriers against countries not in these RTAs, the RTA members give preferential rates to each other- thus leaving the non-members of these RTAs out.

This sounds complicated, in actual fact it's simple: The developing countries are in debt due to lending policies with interest that they can't pay back, the developed countries export goods into these countries whilst making it very hard for the developing countries to export their own goods in return. The richer are getting richer and the poorer are getting poorer.

This is what is happening now. This is mercantilism.