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dropping the pants reference implies a dog in the fight.


I have nostalgia for local production but also recognise it can be harmful to subsidise inefficient industries. Hard to draw the right line between cronyism (obviously tariffs are actually a tax on locals) and resilience. Strategically, NZ unilaterally dropped a lot of tariffs on the advice of economists without considering, game theoretically, how to extract corresponding concessions with trading partners. This started in NZ in the late 80's. They then negotiated largely empty-handed (What will you give me? Wait you already did that.. nothing else?) and had a lot of trouble getting other people to drop their tariffs. Which are still there, in many cases! So there's my dog I guess?




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