I've seen this gif a lot showing that global inequality is falling. But no one seems to notice or mention that the main driver - emerging Chinese middle class - happens in the most protectionist country. https://ourworldindata.org/global-economic-inequality …pic.twitter.com/bEfsPUCT8D
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What I'm trying to say is that if you have those positive characteristics (good infr., demographic dividend, sensible policy, smart people), relative to a developed country, plus a cost differential, you can probably create a middle class without protectionism.
Afaik protectionism was only relevant in the development of certain industries in China, i.e. high technology. A middle class would've been created on the back of apparel, shoes, injection molding, electronics assembly alone.
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Well yes if you have a huge labor price difference then you dont need to add anything on top of that. By definition protectionism only applies in cases where you are not competitive. I mean youre probably right to an extent but question is to what extent.
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Is that true? Africa is not exporting much besides raw materials and their labor is cheap. I think you really do need infrastructure and a few other things in order to compensate for the disadvantage of sea shipping...in order to compete. All I'm saying is that it's possible that
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