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As to who, see my other comment: https://news.ycombinator.com/item?id=30458506 https://news.ycombinator.com/item?id=30458506 And "direction" is doing a lot of

As to who, see my other comment: https://news.ycombinator.com/item?id=30458506 https://news.ycombinator.com/item?id=30458506 And "direction" is doing a lot of heavy lifting in your statement about China. They were, and still are, very protectionist of their internal market, using official and unofficial means. Not to imply western countries are exempt - they also made (and make) use of protectionism in growing their industries. Only after industries matured, would the market be opened, and economic propaganda launched how unrestricted trade was the only way to prosperity (and, by pure chance, this would give the now globally-competitive industries new export markets). See https://en.wikipedia.org/wiki/Protectionism#In_the_United_States https://en.wikipedia.org/wiki/Protectionism#In_the_United_St...: Alexander Hamilton, the first United States Secretary of the Treasury, was of the view, as articulated most famously in his "Report on Manufactures", that developing an industrialized economy was impossible without protectionism because import duties are necessary to shelter domestic "infant industries" until they could achieve economies of scale. The industrial takeoff of the United States occurred under protectionist policies 1816–1848 and under moderate protectionism 1846–1861, and continued under strict protectionist policies 1861–1945. In other words, protectionism has a proven track record of developing economies, while unrestricted free trade is only theoretically able to accomplish this. Of course economists are immune to empirical proof - from that same wikipedia article: There is a broad consensus among economists that protectionism has a negative effect on economic growth and economic welfare, while free trade and the reduction of trade barriers has a positive effect on economic growth.

eru 5y ago
> Not to imply western countries are exempt - they also made (and make) use of protectionism in growing their industries. Only after industries matured, would the market be opened, and economic propaganda launched how unrestricted trade was the only way to prosperity (and, by pure chance, this would give the now globally-competitive industries new export markets). Yes, western countries have often shot themselves in the foot with protectionism. They aren't perfect.

eru 5y ago

> Not to imply western countries are exempt - they also made (and make) use of protectionism in growing their industries. Only after industries matured, would the market be opened, and economic propaganda launched how unrestricted trade was the only way to prosperity (and, by pure chance, this would give the now globally-competitive industries new export markets). Yes, western countries have often shot themselves in the foot with protectionism. They aren't perfect.