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No - capitalism is generally defined as meaning private ownership of the means of production, which are used for private profit. There is nothing in the common definitions about delivering "a quality product at a competitive price."

Note that a variety of laws and regulations discourage monopolies and so-called anti-competitive practices. These result in greater competition, and, presumably, lower prices. So capitalism is restrained by regulation. As a consumer, you benefit - but as an owner, you lose.

And if tariffs and isolationist policies are bad for the market, they why is China - which does restrict access to its markets - growing so fast? Hmm?

Free trade is a dagger in the back of America!

Capitalism is an economic theory which stresses that control of the means of producing economic goods in a society should reside in the hands of those who invest the capital for production. Private ownership and free enterprise is supposed to lead to more efficiency, lower prices, better products. Adam Smith popularized this theory in his 1776 book The Wealth of Nations.

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China is Communist, so they have an interest in limiting free trade. They are also going through an industrial revolution that is fueled by their manufacturing boom. They have a billion people whose average income and standard of living has been dramatically increased in recent years through technological advances and world demand for their consumer goods. Even China is starting to open their markets up to US Retailers. This is the first time that they have had a population that expressed a strong demand for the goods they produce domestically and they are reaching out to US developers and retailers in order meet the increased demand.

Anti-trust laws are the opposite of tariffs. They protect free trade and competition while tariffs discourage competition. If you are China and have a system where the government owns the businesses, you don't want free trade because you lose money. China's individual consumers are still hurt by their government's protectionist strategy though.

Free trade has provided this country with one of the highest standards of living in the world despite the best efforts of the unions and the minimum wage crowd. It has provided you with the myriad of options that you have in your every day life.