He has one problem with his argument, he brought Germany into the equation which is a bad example. Germany has some of the most stringent manufacturing protection policies in the first world. Not to long ago they went after Nokia for "caravan capitalism" for moving manufacturing bases from Germany to Romania. Germany is probably the most piss poor example one could use to strengthen their anti-protectionism argument. They are protectionist (in actions not in words) and they are doing the best through this whole mess.