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I'd say it's more like reverse protectionism. A protectionist demands that his country consume products made domestically. The sanctionist demands that other c

I'd say it's more like reverse protectionism. A protectionist demands that his country consume products made domestically. The sanctionist demands that other countries consume their own products, or those made from a coalition of countries not bound by the sanctions. Economists used to be mostly in agreement that protectionism is always a net bad, but in the last couple of decades have realized that carefully crafted protectionism can be used to allow domestic industries to develop to the point where they are able to compete internationally.

lazyeye 4y ago
There are different flavors of protectionism too. One kind is to pretend to be an open trading nation whilst in reality there are all kinds of "compliance requirements", backroom deals, vague red tape, impenetrable beaucracy such that it is effectively impossible for foreign entities to be successful. Then after a few years the foreign-owned business is sold off to a local company and the conclusion is that foreigners "just dont know how to do business in that country". If done right, you get all the benefits of protectionism with none of the retaliation in return. I wonder if the economists talk much about this kind of protectionism.