This is more of the protectionism/mercantilism/nationalism stuff. Sure, there's a B-story for it but it's all seated in revanchist nationalism and a tropish "suspicious foreigners" framing.

If someone made a villainous fu manchu character people would rightly protest it as intolerable. Yet when we actually instrument official government policy based on the same sentiments that the character is based on nobody even reaches for the pearls to clutch.

Once again, fiction and symbols are somehow more important to the political imagination than material reality.