[blub]

Protectionism does work, every rich country protected its domestic production until it was able to compete on a global level.

Doing otherwise would just result in the internal industry being bought out for pennies or being obliterated by advanced competitors.

Protectionism doesn't guarantee that a country will be successful at building cars, but they should at least bloody try to before giving up.

And yes, capitalism can improve a country's fortunes if applied judiciously. Merely opening the markets to a free for all wil just result in the vultures swooping in, getting rich and leaving some rests for the locals.

[barry-cotter]

Not Hong Kong. It started from a good port, good government and lots of poor people and now it’s rich. Free trade all the way.

[blub]

Hong Kong is not even a country, not to mention its very unusual circumstances and benefits for businesses that are located there.