Industrial policy

THE BROAD VIEW

Trump’s effort to pick America’s corporate winners will end badly

State intervention will undermine key industries by allocating resources inefficiently.

August polling showed that Kamala Harris has pulled ahead of Donald Trump in three key Midwestern swing states – Michigan, Wisconsin and Pennsylvania.
THE BOTTOM LINE

America needs someone to connect the economic dots

Should Kamala Harris be elected, she’ll need to focus on systems thinking

The Biden administration’s Inflation Reduction Act has multiple goals, from promoting place-based manufacturing to lowering emissions.

Getting industrial policy right is a tricky business

Politicians should acknowledge what we stand to lose in the new era of suspicion, protectionism and interventionism

The nuclear option may become a necessity if Jurong Island is to continue playing a vital role in the global ecosystem of green fuels and green chemicals.
COMMENTARY

Nuclear power needed to transform Singapore’s industrial economy

Five neighbouring countries commenced nuclear research as early as the 1950s, so the Republic has no time to lose

America might be described as a large, bureaucratic corporation, a conglomerate that is so massive, complex, diversified and self-interested that it’s difficult for it to work effectively or productively.
THE BOTTOM LINE

America (still) has no industrial policy

Subsidies, tariffs and good intentions don’t add up to what is needed

Climate and industrial policy can become uncomfortable bedfellows, such as when German wind-turbine maker Siemens Gamesa gets a bail-out - is it throwing good money after bad or investing in the climate?

The false promise of green jobs

Modern industrial policy reflects conflicting aims

The European Union has never had an active industrial policy simply because it does not have a federal budget with which to provide large subsidies to specific sectors. But the EU does have the tools it needs to implement growth-enhancing measures of its own.

An industrial strategy for Europe

The EU needs to look beyond direct subsidies to boost the continent’s tech sector 

The US regulates the quantity of sugar imports, so Americans pay almost double the global average for sugar. This puts US producers of cakes and candy at a competitive disadvantage.

Boiling America’s economy

IT IS said that if you put a frog in boiling water, it immediately jumps out; but if you put it in cold water and gradually turn up the heat, it does not react – and is eventually boiled to death. Som...

The shipping ports of Los Angeles and Long Beach. Corporations are responding to changing political winds, with executives mention “reshoring” production to their home country more frequently on earnings calls.

Governments are embracing a radical alternative to globalisation

But introducing industrial policy, or “homeland economics”, is a big mistake, argues Callum Williams

Today’s semiconductor industry is so globally interdependent that almost no chips can be produced without machines and materials from multiple international sources.
THE BROAD VIEW

America’s industrial policy is counterproductive

LAST year’s United States Chips and Science Act created large subsidies for investments in domestic semiconductor fabrication facilities, on the grounds that microchips are essential both to the US ec...