there was an element of drinking their own kool aid. the economic religion of the late 90s and 00s was the theory of (static) comparative advantage vs export oriented industrialization.

China was only shooting itself in the foot, it was argued, by not opening its markets fully and following export oriented industrialization.

profit margins dictated economist opinions though. This is why EOI was treated as quaint while TOCA was treated as gospel truth even though one was nonsense.