> Capital controls come with huge costs, it's another form of import/export controls. Imagine being told the part you need to manufacture your car is 4x the normal price because of intense focus on capital controls, or worse, that you can't get it.

Lack of capital controls can come with a bigger costs, for instance if your country is weakened through the loss of strategic industries (or failure to gain them) while your businesses followed market incentives. The difference is that many of those costs are billed irregularly, so it's easy to pretend they don't exist by focusing on regularly billed things (e.g. price of widget now).