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  • NBF Moderator point
    This 're-examination' is so flawed, where do I start? is the biggest flaw:

    One can compare protectionist America with protectionists everyone else in the 19th century. Especially Imperial Japan and Germany. But one can not compare current protectionist China with them.

    You have to compare current China with post-War Japan, Korea and Germany, instead.

    Why? Because when the US was using protectionism, it was doing so to protect internal markets from foreign competition in order TO DEVELOP VIA INTERNAL GROWTH, not exports. Ditto with Imperial Japan, Imperial Britain before that, etc. It was only since the Bretton Woods era can nations do the latter, as the US guaranteed freedom of the shipping lanes and provided market access to itself in ways that no major nation had ever done so before. Likewise, the US system made it possible for all participating nations to have general access to natural resources and markets all over the world, too. This allowed Japan to re-develop tremendously as it had access to resources it could never dream of having under the old imperial system that it fought so hard to defend by attacking Pearl Harbor in the first place.

    Imagine the current system ending and a return to history in a New York minute instead of years as it is happening now. Export/import dependent nations would be up the creek, big time. China especially.

    So, contrasting China now with America pre-Bretton Woods is ridiculous.

    It gets even more ridiculous: Comparing SEOs to start-ups. Nuff said there.

    This entire article seems to be written by someone who doesn't understand the true economic history involved or is deliberately slanting things to fluff for Next Big China.
  • Expert point
    Britain, US, Germany and Japan did not use selective protectionism to develop their companies and economy, they used organized violence, wars, atrocities to loot, plunder and destroy other nations' indigenous industries to enrich themselves. The catherdrals and palaces, museums and theatres, train stations and old brand named corporations in those nations all have been constructed on horrid foundations of bonesand blood, and amalgamated by tears of their victims. The centuries of plunder of the world are inseparable of the 'Western existence and culture.'
  • Visitor point