Protectionism, akin to the Japanese economy, isn't that great a difference. With a decent tax system, the population will have enough to save and spend in order to build up a native economy. The United States worked absolutely fine under its protectionism prior to the Free Trade agreements, which stripped the US of its heavy industries. Without the ability to look overseas for cheap labour, companies will invest in labour-saving technology. Which is precisely why the Japanese have the most advanced robotics industry on the planet. If a nationalist state were to be established, the economy model should be Japan, not NS Germany, whose Government definetly overspent, and so required war, increased territory, and incorporated more populations in order to survive economically. We don't need to do that. The Western world (supposing it eventually fixes itself up) has all the resources necessary to survive. Oil from the Arab nations merely stunts the expansion of synthetic replacements. It wouldn't be that bad for us. It might take a few years (under ten) for the Western world to build up its heavy industry again, but we (Westerners/Europeans) would do ok, and definetly be better off in the long run.
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