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by jgroch
3613 days ago
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"Protectionist trade policies are common in Japan too...." There are advantages to the way Asian economists do it.
For example, not only in Japan, but especially in Korea, cell phones were standard even by the mid-90's....EVERYONE had one. And the rates were quite reasonable, too. (No contracts, either. IfIRememberRight.)
But there are(/were) disadvantages to Asian Tiger economics too. After the Asian bubble burst, the Korean Wan [SouthKorean money] depreciated to the point that USArmy Sergeants were trying to buy cars (even Fords, not just Kias and Daewoos) made (or rather bought) in Korea. (The US Dollar-to-Wan rate was so out of wack that it was still more economical to buy AND ship a car back to the US across the Pacific on a boat. Unfortunately emissions standards were different; Korean cars didn't pass EPA muster.) ~circa 1998 |
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What Should happen instead is quid pro quo trade agreements. But in Google and Uber's case Chinese industry isn't exploiting the US market, so the US companies have no right to complain.