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More recently in 1939 Japan kicked out General Motors to protect Toyota which at the time was uncompetitive in the global market. The economic miracle of Taiwan has occurred with a state sector one and a half times the world average.[2]
Infant industries are by definition those that are not strong enough to survive open competition – they are dependent on government subsidies and protectionism in order to survive. At a given point in time, protectionist policy, along with inefficient industries leads to higher prices and lower quality goods for the consumer than if the good or service produced by the industry was produced on the international market...
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