The Realignment 527 | Julius Krein: The Blueprint for an American Manufacturing Renaissance
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Jan 7, 2025 Julius Krein, Founder and Editor of American Affairs and Chairman of the New American Industrial Alliance, discusses the urgent need for a reindustrialization movement in the U.S. He examines the implications of recent legislation like the IRA and CHIPS Act and critiques China’s 'Made in China 2025' initiative. Krein advocates for a balanced approach to manufacturing that combines political strategies and emphasizes private sector collaboration. He also navigates the complexities of the electric vehicle market and the challenges of bipartisan cooperation in revitalizing American industry.
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China 2025
- China's Made in China 2025 program aimed to dominate emerging tech and industrial policy.
- They've achieved over half of their targets, dominating in areas like EV and generic drug production.
US Industrial Policy
- America needs to recognize how China's subsidization of capital-intensive activities disadvantages similar investments in the U.S.
- The U.S. must make strategic areas more appealing to private sector investment.
Bipartisan Industrial Policy
- The Biden administration's focus on decarbonization is partisan and limits broader appeal.
- Focus on bipartisan areas like defense and nuclear energy.