Amen! Just look at what Ronald Reagan's tariff on 700cc and over Jap bikes did to Harley Davidson.
*uffda
Not only. There is another way---without protectionist barriers that is. Getting anyone to go along with it is another matter.
The "protected industries" you speak of are Indian entrepreneurs, living in America (typically on green cards), who promote the outsourcing to Bangalore of jobs such as customer support, programming, call centers, and whatever else can be done through cheap telephones and Internet connectivity.
I know what I speak of, since I know one Indian who sold his H1-B staffed, NYC-based computer services company for several million $$$. His staff of 30+ technicians was 100 percent imported Indian labor making 1/2 American technical rates, and he told you so with no end of self-satisfaction. That's how he got so much $$ for his company: he charged American rates, and paid Indian rates.
These smirking Indian entrepreneurs are scamming the U.S. visa system with H1-B and abusive "L-1 intra-company transfer" visas.
So frankly, I don't care if these Indian entrepreneurs go bankrupt in America, rather than buying $1M townhouses on the Hudson River.
In most cases these people are not even Americans.
The other way to stop it is to get the govt to stop micro managing industry, and relieve industry of the shadow/sword of the legal trades.
We really don't need more ill-considered legislation, foisted on business by those who hardly worked a real job in their lives.
Our current leadership, for the most part, wouldn't know 'capitalism' if it smacked them between the eyes.
The idea was sold that the loss of our "auto-building", "ship-building", "steel", etc, etc, etc, was supposed to be offset by the "new economy" the "high tech" world that would offset the loss of the "industrial" economy.
That is what was supposed to "sustain" the middle-class.
With the loss of technology on top of manufacturing, etc, we become a completely service based economy. This means the death of the middle-class.
And if that happens, I guarantee you Kissinger's predicition will come true, and America will lose its status as a world power.