2. Japans experience makes the infant industry case for protection better than any theory. In the early

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2. “Japan’s experience makes the infant industry case for protection better than any theory. In the early 1950s, Japan was a poor nation that survived by exporting textiles and toys. The Japanese government protected what at first were inefficient, high-cost steel and automobile industries, and those industries came to dominate world markets.” Discuss critically

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International Finance Theory And Policy

ISBN: 9781292019550

10th Edition

Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz

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