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China is following the philosophy of economic nationalism. Two arguments for this statement are: Protection of industries: China implements policies such as tariffs, subsidies, and
China is following the philosophy of economic nationalism. Two arguments for this statement are: Protection of industries: China implements policies such as tariffs, subsidies, and import restrictions to protect its domestic industries from foreign competition. This allows Chinese industries to grow and develop without being overshadowed by international competitors. By protecting its industries, China aims to maintain control over key sectors of its economy and ensure their long-term sustainability. Comparative advantage: China demands other countries to open up their markets in areas where it has a comparative advantage. This means that China focuses on exporting goods and services in which it has a lower opportunity cost compared to other countries. By leveraging its comparative advantage, China can maximize its economic gains and increase its global influence. Opening up other markets also allows China to expand its export-oriented industries and increase its overall economic growth
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