The perils of protectionism

摘要

Inote that Mr Werner Lundt, the managing director of the German Shipbuilders Association VSM, recently gave vent to his and his association's frustrations over their perception of Asian price dumping with respect to special purpose vessels. As I have written previously, "people who live in glass houses shouldn't throw stones". This old saw is particularly appropriate in the context of protectionism, government assistance, dumping and similar forms of market interference. While German shipbuilders have over many decades earned a very fine reputation for innovative design and the high quality construction of a wide range of ships, particularly special purpose ships, my hypocrisy alarm is ringing loudly after reading Herr Lundt's comments.