But I also have to add that the Chinese now telling Trump not to stay in the dark room is hypocritical because when they wanted protectionism they used it - now that Trump wants to save american jobs they are against it -- why? It is the job of a national leader to save jobs for his people. I wish our leaders thought about us in same way.
Please read this story for more on this China President story : China President warns US President
China, like other NE Asian state, is a developmental state, not protectionist.
Protectionism is applied selectively, not as a blanket policy. The US still does selective protectionism. Every country does for the industries they think they should protect.
Japan protects auto industry. US protects agribusiness.
If protectionism really worked, rest assured, even your leaders would apply it. Everybody loves money. The thing is when you have no viable industry, you would have nothing to protect.
Take India, they do not have any industry, hence, they have nothing to protect. Same for your country. So your leaders do not worry.
To protect, you need to have viable industries, to begin with. It is not the other way round.
China has lots of industries to protect because it has immense knowledge pool, manufacturing and logistics capacity.
Many countries will die for 260 million USD investment.
And it is over a 25 year period. So, roughly, 10 billion USD per year.