Maybe they were talking to the wrong US right wing think tank. Trump appears to have caused a rethink. He asks China to cut back steel production. They say no so he adds an import tariff. Production levels are a way of controlling world pricing used on oil etc. Sometimes various factors cause price changes even bad harvests. China - well their only interest like most is to grow their economy. They also have the supply chains needed for manufacture. An eg - yonks ago the UK imported loads of iron ore from Spain not that many yonks ago really, A port in Spain intended to do nothing else. Compared with digging it up locally it's not competitive. Dyson is another example. He finished up importing so many components that he switched his manufacture to the east. The whole thing could be called globalism said to improve things for other poorer countries. It does but some over time go much further eg S Korea, starts with clothes and finishes with cars and all sorts.'Free Britannia'
Biden comes along and starts worrying about jobs so imposes a number of staged tariffs on Chinese goods. Globalism has cause several problems of late.
FACT SHEET: President Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade Practices | The White House
President Biden’s economic plan is supporting investments and creating good jobs in key sectors that are vital for America’s economic future and national security. China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American...
www.whitehouse.gov
LOL Why the post. One of the arguments for joining the EU in the first place was protectionist actions by countries. Turns out globalism won. Now????? The bed has been made. Investment is driven by profit. In many ways it's the only driving force. Bigger the market the better it is.