Reply #19: Protectionism [View All]

[Celebrandil]

Yes, that might be the case for some particular industries. That has happened in the swedish textile industry, for example. Jobs have moved to neighbouring eastern european countries, which has lead to a record growth rate in these countries. A good example is Lithuanian. Their industry grew by more than 12% during the first 6 months this year. That has lead to better living conditions for people in these countries, thus improving the stability of the whole region. Yes, some swedes lost their jobs, but it hasn't affected the unemployment. I don't see that protectionism would have been a better alternative.