A look at China’s industrial policy: how much it spends, how it stands out, and what lessons the U.S. should learn.
BYD's one millionth car, the Han EV, rolling off the production line in Shenzhen, May 20, 2021. Credit: BYD
How much does Beijing spend on its industrial policy goals? A new estimate suggests the figure could be much larger than first realized.
In May, a team of researchers at the Center for Strategic and International Studies (CSIS), a Washington, D.C., think tank, calculated that China spent around 1.7 percent of GDP — about $250 billion — in 2019 on supporting various industries, an amount that dwarved that of any other major economy.
Now, a revised estimate shared with The Wir
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