Isolationism

Isolationism is the foreign policy position that a nations' interests are best served by keeping the affairs of other countries at a distance. One possible motivation for limiting international involvement is to avoid being drawn into dangerous and otherwise undesirable conflicts. There may also be a perceived benefit from avoiding international trade agreements or other mutual assistance pacts.

"Isolationism" is a controversial style of policy. Whether or not a country should be isolationist affects both its people's living standards and the ability of its political rulers to benefit favored firms and industries.

A policy or doctrine of trying to isolate one's country from the affairs of other nations by declining to enter into alliances, foreign economic commitments, international agreements, and generally attempting to make one's economy entirely self-reliant; seeking to devote the entire efforts of one's country to its own advancement, both diplomatically and economically, while remaining in a state of peace by avoiding foreign entanglements and responsibilities.

All the First World countries trade in a world economy, and experienced an expansion of the division of labor, which generally raised living standards. However, some characterize this as "a wage race to the bottom" in the manufacturing industries that should be curtailed by protectionism. Some argue that isolating a country from a global division of labor—i.e. employing protectionists trading policies—could be potentially helpful to the people.Free trade eliminates the economic barriers otherwise posed by geopolitical borders, such as tariffs and various taxes that would be inconvenient for both manufacturers and consumers. However, isolationism on the other hand, can preserve local jobs that would otherwise be outsourced overseas. There is no universally accepted opinion regarding isolationism, although western countries often criticise North Korea, Cuba, and other countries for pursuing isolationist policies. These countries, conversely, generally rebut that their policies are in resistance to western imperialism .

...
Wikipedia