3 ms·
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 requ
by 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.