Was it a mistake if the goal was to get cheaper products at the expense of foreigners losing fingers?
I agree it is myopic policy for the long term, but certainly many voters are happy to push safety problems somewhere else.
And yes, over and over this was the desireded goal, I remember the election campaigns, the speeches, the white papers, the think tanks.
This has mostly been a success, looking at many such countries. The standard of living has gone up, for example China now has a "middle class" of sorts.
Environmental concerns were not on the radar at the time, not 50 years ago, not like today.
The intentions were reasonably positive and well founded. Of course, I agree reassessment is necessary, and it really should always be.