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It's a fine line to walk. We had high protective tariffs from 1865-1900, which worked wonders in developing our manufacturing base. It also had the unintended consequence of creating monopolies which led to decreased competition and higher prices.
Free trade has the unintended consequence of moving the manufacturing base to the location with the cheapest production costs.
China is poised to become the next superpower and there's nothing we can do about it unless the American population suddenly decides to return to a culture of individual responsibility and self reliance, which would change our economic policies, both domestic and international.
Since that will never ever happen, prepare yourself for the economic collapse that is sure to come.
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