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Industrial policy. Diluted about manufacturing.

The Economist 2023

An industrial arms race is underway. America, welcomes it, saying the world needs green technologies and a diversified supply of chips. But, Subsidies and protection for manufacturing will harm the world economy. Reshaping the world’s supply chains comes at a great cost | Leaders

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ECONOMICS TRADE GLOBALIZATION POLICY

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Summary:

This article is about the industrial arms race and how the world needs green technologies and a diversified supply of chips. The author suggests that subsidies for manufacturing will harm the world economy, and reshaping the world's supply chains will come at a great cost. The main message of this article is that political leaders must consider the consequences of an industrial arms race carefully when making decisions on industrial policy. The summary of this Article is: Leaders must consider carefully when formulating policies around industry, as an industrial arms race has begun. America welcomes this in order to have a diversified supply of chips and green technology, but subsidizing manufacturing would harm the global economy. Reshaping supply chains is costly, so leaders should be cautious when deciding their approach to industrial policy.

Keywords: Industrial Policy, Manufacturing, Arms Race, Green Technologies, Diversified Supply Chips, Subsidies Protection Manufacturing, World Economy , Reshaping Supply Chains , Costly Decisions , Political Leaders

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Industrial policy. Diluted about manufacturing.

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