Countering Chinese Industrial Policy Is Counterproductive

CHICAGO – U.S. political leaders have long tried to counter Chinese industrial policy. And now they seem to have decided that the best way to do that is to emulate it. But their agenda betrays a profound lack of understanding of the unique challenge posed by China’s coupling of an authoritarian political regime with a dynamic market economy. Millions of Chinese firms, including some of the world’s most innovative, are occasionally asked to serve the regime’s political objectives

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