"Free market with open competition" works when countries play fair. China doesn't play fair. What you propose is to decimate the car industry (your example) and

"Free market with open competition" works when countries play fair. China doesn't play fair. What you propose is to decimate the car industry (your example) and be dependent on foreign actors. Extrapolate that to every industry, and now you have a shell of a country. Late-stage capitalism is equally bad as a "free-for-all" market.