Question:
What's wrong with the following statement? A high level of international trade protectionism is needed if developing countries are going to be able to industrialize and develop their own domestic industries in the face of fierce foreign competition.
I understand that trade protectionism limits what can be imported, and that a developing country may not be given the chance to expand or develop their own industries in the face of already established competition. So this statement should say that in order to expand, developing countries would need low levels of international trade protectionism. Am I reading this correctly? What other factors need considered?