Where did that come from? I guess one could say we have protected the Chinese economy by restricting our own economy with the highest tax rate in the developed world as well as mountains of costly restrictions and regulations.
Where did that come from?
“Protectionism raises prices to consumers and cuts off American industry from the world. It chases large American employers offshore so that they can compete in the wider world and makes the protected industries lose efficiency. Reducing their competition lessens the drive for lower costs and higher quality.”
All of this, everything you stated above, has been happening for years. You’re stating that these things WILL happen if we have a protectionist economy. So have we had a protectionist economy or not? If not, then what kind of economy have we had? And please, don’t start with the free trade crap. Free trade takes 2, not 1 country. Hence the term “trade.”