Should countries globalize first before their companies go global? Or is it the other way around
I personally find it hard to imagine world class companies emerging from countries that are otherwise entirely closed off from the world economy. There is some conceptual room for debate about whether any protection from inbound competition should be offered to domestic industries or companies that are in the early stages of globalization, but in practice, such "infancy" arguments can lead to chronic dependency on protection rather than world-class competitiveness. The record of Indian industry during license raj is a telling example.