[ardit33]

If that is true, then Argentina (and many other Latin countries that adopted protectionism policies) would be flourishing. Argentina should be as rich as Canada, but they are 1/5th of their level.

Protectionism might workout/help out for a limited time to jump start nascent local industries, but in the long term is damaging to an economy.

[mistermann]

Or, perhaps there is more than one single variable involved in economic development.

[imtringued]

Protectionism isn't about jump starting local industries. It's about converting foreign owned local industries into domestically owned local industries. You can only afford to do it once you no longer need foreign investors.