But price elasticity isn't infinite. A large part of the middle class would be priced out of most modern amenities if these would be produced domestically. Import substitution is one of these things that sounds nice in theory but tend to be highly damaging in practice.

> A large part of the middle class would be priced out of most modern amenities if these would be produced domestically.

Who said everybody would get to keep buying as much cheaply made foreign crap as before? From an environmental perspective that's arguably a win as well. Reducing both pollution from construction and transport.