Re: What happens when...
> taking advantage of open markets and keeping their own restricted.
That, believe it or not, is how large sectors of the US operate. If you want to see protectionism at work don't look at semiconductors, try watching Boeing. Sure, China and companies like COMAC are being hit, but then so is Airbus. Boeing isn't exactly a civilian products only company; it derives a lot of its business from military work.
I think the whole "freedom and democracy" thing needs a review. We may have escaped by the thin of our teeth a direct attack on our democracy -- its still the best anyone can buy, though -- but we're not free to invest where we want -- capital and investment flows are controlled to the advantage of the US, inbound investment is controlled, I can't trade with many countries, there are tariff walls all over the place. Its a mess, and its anything but free and democratic.