The Great Wall thesis is an influential theory developed to explain how economic systems behave This thesis suggests that economic systems, such as nations, regions, or cities, develop a “Great Wall” of protectionist policies and regulations to create their own economic advantage. This wall of protectionism serves to limit the competition that a particular economic system faces from outside entities, while allowing the system to expand and take advantage of its unique internal strengths. This theory has been used to explain why some nations are more successful than others in a given sector, and why some countries have experienced great success while others have yet to make significant advances.
The five best examples of the Great Wall thesis in action are as follows:
1. The United States: This country has long benefited from stringent trade policies that allow it to protect its domestic markets from foreign competition. This has enabled it to become a major global economic power and to gain an advantage over other countries.
2. China: While the Chinese government has been open to foreign investment and trade, it has also used its protective policies to ensure that its internal markets remain strong. This strategy has made the Chinese economy one of the strongest in the world.
3. Japan: Japan has used its walls of protectionism to successfully develop its domestic industry and to limit the competition it faces from foreign companies. This has enabled it to become a leading producer of advanced technology products, as well as a major economic power.
4. India: The Indian government has long used its protectionist policies to limit foreign competition and to encourage the growth of its own domestic industries. This has enabled the country to become a major player in the global economy.
5. Germany: Germany has traditionally employed protectionist policies to ensure that its domestic markets remain strong and that it can maintain its share of global trade. This has enabled Germany to become a major exporter of goods and a major economic force in the European region.
These five countries provide excellent illustrations of the Great Wall thesis in action. By understanding how these countries use protectionist policies to ensure their own economic advantage, it is possible to gain insight into how countries can succeed economically in the global marketplace.