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
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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protectionism was a bug, not a feature of the creation of their middle class. It probably would've happened anyway. It's unclear as to whether it was needed to compete in high tech. What areas are they doing that successfully? ZTE/phone tech? Protectionism not needed for that.
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I don't think we can objectively settle this :) also they might not need it now but 10 20 30 years ago? How do you know they would not all use Nokia had they opened up completely before they had high tech?
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Ok you're right i take it back you do need additional things like infra. But the other half is true, if you're competitive anyway then of course no need for protectionism.
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Agreed. That's why protectionism tends to be selective. The local industry complains about X. We don't have a tariff on this stuff because it's cheaper to make domestically.pic.twitter.com/YvEPljhlrY
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