While I agree with you 100%, I think most modern economists fail to account for bad actors.
If a situation was "China is producing X and having its taxpayers subsidize cars, steel, etc" then it would be their loss and our advantage. We get great products they get pieces of paper. I couldn't care less.
But considering that the real goal of those bad actors is to annihilate the competition and then pull the rug this is ultimately a bad idea.
Especially when those bad actors, at the same time, do their best at playing dirty and ignoring intellectual property.
I couldn't care less if Europe didn't have a shipping industry, in fact protectionism of it has failed miserably in Europe, and made our yards less, not more competitive. So yes, in that world I agree.
But in a world where an elected (or unelected) government, can suddenly blackmail you or create such an immense strain on your economy (as Russia did with Europe) this is not really like that. And suddenly you realize you should've paid way more, but invested way earlier in diversifying energy-wise.
In an ideal market I'd be 100% with you, in the real world, it's really neither black nor white.
If a situation was "China is producing X and having its taxpayers subsidize cars, steel, etc" then it would be their loss and our advantage. We get great products they get pieces of paper. I couldn't care less.
But considering that the real goal of those bad actors is to annihilate the competition and then pull the rug this is ultimately a bad idea.
Especially when those bad actors, at the same time, do their best at playing dirty and ignoring intellectual property.
I couldn't care less if Europe didn't have a shipping industry, in fact protectionism of it has failed miserably in Europe, and made our yards less, not more competitive. So yes, in that world I agree.
But in a world where an elected (or unelected) government, can suddenly blackmail you or create such an immense strain on your economy (as Russia did with Europe) this is not really like that. And suddenly you realize you should've paid way more, but invested way earlier in diversifying energy-wise.
In an ideal market I'd be 100% with you, in the real world, it's really neither black nor white.