Posted by: Anonymous Coward
on July 19, 2002 02:05 AM
It's also what the US did. The US had very high tariffs throughout the 19th century, to allow domestic manufacturing to advance.
Every rich nation goes through the same pattern: be protectionist until you can compete; once you're strong enough, preach the doctrine of free trade.
Some countries run into trouble because they get set in their ways and don't make the switch soon enough, continuing protectionism when getting rid of it would be more helpful (when your big industrial concerns are no longer in their rapid improvement phase, protectionism will just make them stagnate). Japan ran into this kind of trouble.
But during the Asian economic crisis of 1997-1998,
it was the countries that were most protectionist (China and Malaysia) that came through with the least damage.
Learn about Linux
Download Linux
Get Linux help
Re:Interesting...
Posted by: Anonymous Coward on July 19, 2002 02:05 AMIt's also what the US did. The US had very high tariffs throughout the 19th century, to allow domestic manufacturing to advance.
Every rich nation goes through the same pattern: be protectionist until you can compete; once you're strong enough, preach the doctrine of free trade.
Some countries run into trouble because they get set in their ways and don't make the switch soon enough, continuing protectionism when getting rid of it would be more helpful (when your big industrial concerns are no longer in their rapid improvement phase, protectionism will just make them stagnate). Japan ran into this kind of trouble.
But during the Asian economic crisis of 1997-1998,
it was the countries that were most protectionist (China and Malaysia) that came through with the least damage.
#