>While underdeveloped nations still have something to gain from
>protectionism, America, Europe, & Japan don't.
I suspect only large "underdeveloped" countries could gain from protectionism now (abstracting from all the external political pressures - meaning from Washington and the IMF - that would make them very hard to sustain). That would mean China, India, maybe Brazil. But smaller than that, how can they do it? The internal market would be too small, and the native technology base too thin.
Doug