How big corporations took over Western governments
Geopolitical Economy Report
Shift Towards Industrial Policy in Response to China's Rise
The chapter explores the US government's move towards industrial policy to compete with China's socialist economic model, drawing parallels with Japan's past economic decline. It analyzes President Biden's industrial policy and expresses doubts about its effectiveness in the current neoliberal financialized system, citing challenges in governance and education policies. The discussion includes comparisons between US and Chinese economic strategies, highlighting the need for a financial sector supportive of productive investments.
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