Are Protectionist Policies Beneficiak to Business?

10952 words 44 pages
Street−Street: Taking Sides: Clashing Views in Management, Third Edition

IV. Environmental and International Management Issues

18. Are Protectionist © The McGraw−Hill Taking Sides: Clashing Views in Management, Third Edition Policies Beneficial to Companies, 2010 Business?

101

ISSUE 18
Are Protectionist Policies Beneficial to Business?
YES: Ha-Joon Chang, from “Protecting the Global Poor,” Prospect Magazine ( July 2007) NO: Robert Krol, from “Trade, Protectionism, and the US Economy: Examining the Evidence” in Trade Briefing Paper No. 28, The Cato Institute (September 16, 2008) ISSUE SUMMARY YES: In support of the idea that protectionist policies help business, Ha-Joon Chang focuses attention on developing industries in poor
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Chang describes and advocates historical protectionist policies from all around the world. Interestingly, the article contains many examples taken from the histories of today’s wealthiest countries. The point behind this approach is that history shows that in order for today’s poorer nations to succeed, they need to be allowed to adopt regulations that protect their fledgling key industries.

346

Street−Street: Taking Sides: Clashing Views in Management, Third Edition

IV. Environmental and International Management Issues

18. Are Protectionist © The McGraw−Hill Taking Sides: Clashing Views in Management, Third Edition Policies Beneficial to Companies, 2010 Business?

103

YES
O

Ha-Joon Chang

Protecting the Global Poor nce upon a time, the leading car-maker of a developing country exported its first passenger cars to the US. Until then, the company had only made poor copies of cars made by richer countries. The car was just a cheap subcompact (“four wheels and an ashtray”) but it was a big moment for the country and its exporters felt proud. Unfortunately, the car failed. Most people thought it looked lousy, and were reluctant to spend serious money on a family car that came from a place where only second-rate products were made. The car had to be withdrawn from the US. This disaster led to a major debate among the country’s citizens. Many argued that the company should have stuck to its original business of making simple

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