The Intelligence from The Economist Bold eagle: America's industrial evolution
Feb 3, 2023
Charlotte Howard, Executive Editor at The Economist, leads a fascinating discussion with Arkady Ostrovsky, who shares insights on the rise of offshore journalism in Russia amidst media suppression. Fiametta Rocco reflects on the vibrant life of Italian actress Gina Lollobrigida, highlighting her tenacity in Hollywood. The trio also tackles the Biden administration's bold industrial policies, shifting focus to clean energy and domestic manufacturing, and the implications for the workforce in this evolving economic landscape.
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Shift in Economic Policy
- The Biden administration aims to revitalize the US economy through state intervention.
- This marks a shift from the past 40 years of focusing on free trade, low taxes, and deregulation.
Reducing Dependence on China
- The Biden administration is trying to reduce dependence on Chinese supply chains, especially for critical goods.
- Subsidies are being used to incentivize domestic production of clean energy equipment and semiconductors.
Investment in the "Battery Belt"
- Carmakers have invested heavily in new factories along Interstate 75, from Michigan to Georgia.
- This "battery belt" focuses on electric vehicle and battery production.