China shapes a brand new U.S. financial period: The return of commercial coverage

Fears of China’s rising financial would possibly, and America’s dependence on its rival for vital manufacturing and pure sources, are reviving an

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Fears of China’s rising financial would possibly, and America’s dependence on its rival for vital manufacturing and pure sources, are reviving an curiosity in industrial coverage — using state energy to encourage manufacturing on home soil, even when it could be cheaper and extra environment friendly to purchase merchandise from overseas. Outdoors a couple of slender sectors equivalent to fighter jets and different high-tech protection gadgets, using industrial coverage had been reviled amongst Washington policymakers for over a era. However now it’s coming again, in line with interviews for a brand new episode of POLITICO’s Global Translations podcast being launched Wednesday.

Jennifer Harris, who served on the State Division’s coverage planning workers beneath Hillary Clinton, advised the podcast that industrial coverage was “the form of time period that might get you kicked out of conferences” within the Obama administration. However the relentless rise of China, coupled with disruptions from the Covid-19 pandemic, has modified all that.

“Plainly we’re headed into a brand new Chilly Conflict with China. And the query is, what does that require?” requested Harris, a senior fellow on the William and Flora Hewlett Basis.

“Industrial coverage has turn out to be now now not a unclean phrase. And actually, I believe that a complete lot of great individuals are speaking about it in america as a phenomenon…



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