JNever in history has the economy been so used as a weapon of war (“weaponized”, according to the English expression). We are witnessing a singular double phenomenon: the return of classic protectionism, coupled with unprecedented commercial rearmament. It all (again) starts with the 2008 crisis, caused by a failure of the American financial system. It is then that the old protectionist reflexes resurface. First on the side of the peoples who demand more protection. Then on the side of the States which, of course, resist the temptation to significantly increase their customs tariffs, but no longer hesitate to counter their competitors who engage in dumping or apply non-tariff measures: exchange rates, local content , social and environmental standards… The following crises – Brexit, the election of Donald Trump, Covid-19 and the war in Ukraine – radicalized this trend. With a main objective which is not so much the closure to exports as the concern to manufacture oneself the essential products to ensure growth and sovereignty.
Nothing to do with the protectionism of the end of the XIXe century. At that time, all countries, except Great Britain, drastically increased their customs tariffs (mainly agricultural and industrial) to stay in the race. Today, the customs tool is insufficient, even obsolete, if we judge by the impotence of the surcharges imposed by Mr. Trump on China. The sectoral protectionism of the last centuries is giving way to global and security protectionism. Affecting national security, it requires new weapons.
Hence the American strategy: Washington is entering a new era of techno-nationalism, which it assumes perfectly. “Preserving our scientific and technological advantage, is not only a domestic issue, it is also a matter of national security”explains Jake Sullivan, national security adviser. In America, the defense of economic interests and the awareness that these are inseparably linked to its world leadership have been a constant in politics since the country’s independence at the end of the 18th century.e century. Was it not in the United States that the German economist Friedrich List (1789-1846) matured his ideas which culminated in the publication, in 1841, of his master work on protectionism, National system of political economy ?
Great Wall
On an economic war footing, Washington will do everything to prevent China from stealing its throne. Starting with technology transfers. No more question of yielding to the pressures exerted by Beijing on the American multinationals so that they yield their industrial secrets against the access to its market. To lead this battle, Uncle Sam multiplies the laws, regulations and sanctions, in order to erect a great technological wall against the Middle Kingdom.
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