Which big western country are we talking here?
Over the last few decades, the trade policy of the country was the most protectionist of the entire world:
Industrial products had an import customs duty of of between 40 and 55 %. The majority of the population is not permitted to vote. Buying votes and election fraud are matters of course. Corruption runs freely and the political parties sell government jobs to their financial benefactors. It never happened that the state made someone a civil servant through a public advertisement.
The public financial situation is so precarious that even investors from abroad are truly worried. Regardless of this, investors from abroad are discriminated against in the most violent way. Especially in banks, foreigners are not allowed to be in a leading position and stock-holders from abroad may only vote if they have a residence in the country.
There is no such thing as a competition protection law. Cartels and other forms of monopoly are permitted and mushroom out of control. The protection of intellectual property is full of holes, in particular because intellectual property of foreigners is totally unprotected.
The Solution:
The USA in the year 1880.
A hundred years later, the Chicago Boys, following Milton Friedman countries the development of which was in the same state as the USA in 1880 prescribed a radical cure of business liberalism. They opened the market for their world-wide enterprises and ruined the assets of the countries concerned.
Now the USA wants to regulate the export of other countries.
Well, they do have experience with protectionism, don’t they? All they have to do is take a look at their own history books. They will find a collection of recipes from which they can select those most useful for the USA.
SIX
(Translated by EG)
The excerpt about the USA in 1880 was taken from the book “23 Lies About Capitalism” by the economist Ha-Joon Chang who teaches in Cambridge.
The book on ideologies of the free market was written by Naomi Klein (Die Schocktherapie) and reviewed by Hans-Peter Kühn for the IF blog.
The headline is allegedly either by Robert Gernhardt or F. W. Bernstein.
I would like to thank all those that were cited by me.
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