Is the difference between developing and developed countries really the lack of tariffs or is it due to poor governance? I feel like the reason why countries are always so pro-tariff is because the benefits of tariffs go towards a small group of people, whereas the cost of tariffs are diffused. But small costs add-up and if you start applying the tariffs to other industries then you start seeing the impacts in the cost of goods.
What are the examples where protecting a country from exports for a few decades then opening it up to competition actually produced a world-class industry? Singapore is an example of a country that has been pro free-trade and has benefited as a result.
What are the examples where protecting a country from exports for a few decades then opening it up to competition actually produced a world-class industry? Singapore is an example of a country that has been pro free-trade and has benefited as a result.