In my view protectionism is a clear admission of failure to compete in world markets. Protectionism belongs to 19th century thinking. Pulling up the drawbridge is because a country can't or wont compete in price and quality of goods. Trump just doesn't understand that it has been tried in the past and failed. The world markets are much much bigger than any 1 domestic market. Yes it's that build a wall philosophy rearing it's ugly head. Tump has no idea what he is putting in place. The US economy will stagnate if it just sells to itself. He is giving up the world's number one position. Will other countries care ? Of course not. They will be delighted to take what market share the US once had. It is easier to see this in practice. Hong Kong and Singapore used to be free trade markets and they boomed, even with no resources. The US companies should stop patting themselves on the back for a job well done and look at the reality.
Protectionism is destructionism. There is no other way to look at it. Just your typical politician appealing to the uneducated masses.
You are looking from the side of main stream media who write for globalists. For globalists the best thing to happen them is "anti-protectionism" in the name of righteousness, capitalism, etc. If you want to succeed you can't do what everyone is doing. In 1950s it was good to be globalist as that was a contrarian position whereby West was getting bigger market. Now we have gone through globalization and everyone is doing it. So, it is time to be protectionist. Like Peter Theil said .. Globalization is so 2005. You want to see impact of globalization, here is the link I came across the other day on a club I am member of on Facebook. It is time already to wind down globalization. Protectionism doesn't mean just stop flow of tooth brush and candies. Labor market is also a commodity in one sense. This is the impact of labor market globalization.
Capitalism should be protected abolishing the government almost completely... Your correlating maps have no causal connection.. basically your study their is the most naive I've ever seen... I hope you don't make trades based on researfh like that
The Western economies have had an easy ride since the fifties. All of a sudden better quality products at a cheaper price are appearing. It is a tough world. Labour AND management both will have to lower salaries besides other cost cutting measures if industry is going to stay in the US and Europe. COMPETE OR DIE Just great for the consumers though.
The fact that you are associating trade with globalization and protectionism shows you are pretty disconnected with trading. In case you didn't know, trading is very short horizon and investing is of year horizon. I am not an investor but in case you are, spot the pattern. I didn't create the graph, I just found it interesting common sense example of "why being contrarian now can work"
Better products mean nothing if you have no market for it. Take example of 4G services in India. It costs $10/month for 500GB of data. In US you have to pay $100/month for like 10GB data and then carriers choke your traffic too. Good luck making all the cool technology. The margin will be so thin outside West that even volume can't break even. So, West does have advantage of being the market provider. So, in the case of protectionism, those cool companies have to pay higher tariff for entry into Western market. Why not?