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If you're going to attack mercantilism from a free trade perspective, the IMF is at the other end of that pole. That's where your ideas were tried and failed i
by refenestrator 5y ago
If you're going to attack mercantilism from a free trade perspective, the IMF is at the other end of that pole. That's where your ideas were tried and failed in practice.
South Korea, Japan, Taiwan and China are all huge success stories due to protecting nascent industries while they caught up with more industrialized states.
- mbrodersen 5y agoDon’t forget the US. The US benefitted from massive import restrictions in its early history. It only lowered the walls when it became competitive. Which was smart (by the way) and is what successful countries have historically done. Countries that didn’t protect themselves were crushed by international companies overpowering local companies.