Does this strategy work for B? Or does this backfire in some way that I did not see? This is the strategy major manufacturing nations (Japan, Germany, US, China) took to develop. Maybe instead of free trade, we should be aiming for reciprocal trade.https://twitter.com/Molson_Hart/status/1184674911920492545 …
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many economists would classically argue that B won't really bcome competitive w/o external competition. Also counter tariff could be an issue. ISI (import substitution) was largely unsuccessful in many Latin A. Nations, but IMO it is indeed a viable strategy executed right
Usually, the states that set up an import tariff also create an export subsidy, to your point, to create external competition. Agree about counter tariff, but there are many people who argue that USA should not be doing that. Simplified example attempts to address that idea.
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Don't know much about attempts to achieve it in Latin America but would like to learn more. Have you read How Asia Works? It's a great book on the subject.
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