New York Times (January 16)
“Intent on reversing America’s decline in the world’s production of cutting-edge semiconductors, the federal government has begun what is arguably the government’s largest foray into the private sector since World War II.” This “more muscular approach to industrial policy” is “pockmarked with risks. On balance, the record of government trying to improve the functioning of the private sector is poor, and particularly in complex sectors like semiconductors, the challenges are great.”
Tags: Complex, Cutting edge, Decline, Government, Industrial policy, Intent, Private-sector, Production, Reversing, Risks, Semiconductors, U.S., WWII
Washington Post (March 5)
“This week’s report by a bipartisan commission on artificial intelligence is an early sign of what could become a major shift in America’s economic strategy: Without much public debate, the United States is moving toward what amounts to a U.S. version of industrial policy to compete with China on technology.”
Tags: AI, Bipartisan, China, Commission, Compete, Economic strategy, Industrial policy, Major shift, Public debate, U.S.
Wall Street Journal (June 24)
“Shinzo Abe introduced the latest installment of his ‘third arrow’ economic reform on Monday, and again the Japanese Prime Minister offered some good ideas. But there’s reason to doubt that it goes far enough to revive Japan’s economy, especially because it returns to some of the worst elements of the country’s post-World War II industrial policy.”
Tags: Abe, Economy, Industrial policy, Japan, Third arrow
The Economist (June 15)
“Now Mr Abe’s eagerly awaited “third arrow” of structural reforms has fallen well short of the rings, let alone the bull’s eye. Indeed, it is so wide of the mark that one is left wondering if Abenomics has failed before it even properly began.” The disappointing third arrow consisted mainly of “old-fashioned industrial policy which has been tried, and has failed, before… Meaningful deregulation, labour-market reform and steps to make agriculture competitive in order to prepare for the TPP were all shelved. Truly bold measures, such as boosting immigration or changing the electoral system to give proper weight to young and urban voters, are off the agenda entirely.”
Tags: Abe, Abenomics, Agriculture, Deregulation, Electoral system, Immigration, Industrial policy, Japan, Reform, Structural reforms, Third arrow, TPP
