This is a hard lesson for government leaders and company heads to learn. Of course it is a long transition from protectionism to an open economy. However, such a transformation can be realized through careful planning, proper implementation, and dedication to achieving the goal. Otherwise, the pace of economic development will be restrained in the long run. Competitiveness is in direct proportion to the value you create, and in inverse proportion to the costs you bear.
Value includes brand and product image, quality, performance, technology, and so on.
The costs include materials, labor, land, and additional intangible factors. Asia in the past used its low-cost advantage to increase competitiveness. However, as economic development progresses, the costs of natural resources, land, and human labor continue to increase. This is a dead-end path. This should be our never-ending goal.