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Winners and losers in China’s industrial policy
China’s industrial policy has drawn global attention, sparking different reactions from developed and developing nations. Developed countries tend to perceive China’s industrial policies as a threat to their firms’ competitive positions, leading them to respond with their own industrial policies. Many developing countries view China’s policy as a blueprint for economic success, inspiring them to adopt similar policies in the hope of achieving rapid economic growth. From both perspectives, though, there’s a consistent underlying assumption — acceptance of the significant role of industrial policy in ... (full story)