Thirty years on from FDI in the American auto industry

Here's an interesting story on FDI that I went looking for when I thought about "market-seeking". I want to remind you of the "voluntary export restraint" undertaken by Japanese automakers in the early 1980s. Much derided by economists for being a tariff without the revenue.

Fast forward thirty years:


Evidence that pressure on Japanese automakers (i.e., protectionism) worked? Discuss!