So how does the a country protect itself? If it opens markets, then it becomes at the whim of the global marketplace, which is completely greed, focused, ultra capitalism. We end up with what we have now in the US: lots of cheap crap, but poor income growth.
If it closes its markets and creates an insular market that provides workers decent pay and focuses on the citizens by having a self reliant economy that minimally require inputs or outputs from other countries, what is stopping companies from leaving the country? Capitalism or at least pure capitalism with open markets appears to be not working for the vast majority of the population of the worldor at least unable to be reconciled with the disparities between different countries. The only groups that appeared to benefit or gain improvements are those at the bottom, because they can be easily exploited while at the same time feeling like they’re making more gains economically. Once this group’s wages reach the level that is higher than the another group, the cycle repeats all the corporations rotate to the new low cost region, causing all sorts of disruption, etc..
