Evolving Industrial Policies and Global Competition

After decades of industrial policy that favored globalization and free trade, we are entering a new era. Prompted by the pandemic, climate change, rising geopolitical tensions and economic concerns, countries and groups of countries are once again using the power they have to intervene in the private sector, whether it's investing in drug development, offering clean energy tax breaks, or incentivizing domestic manufacturing. Harvard Business School professor Willy Shih wants to help corporate leaders navigate these changes in a way that protects their businesses, workers, and customers. He explains the new challenges - as well as opportunities. Shih wrote the HBR article, "The New Era of Industrial Policy is Here."