Industrial policy is back as a powerful motivator for government intervention. This is true in many parts of the world. It appears to be truer for Xi Jinping’s China than it was under Deng Xiaoping, especially now that it wishes to replace investment in property as its engine of economic growth. But the most striking shift is in the US. Ronald Reagan declared that “The nine most terrifying words in the English language are: I’m from the government, and I’m here to help.” Today, the Biden administration is “helping” enthusiastically. Donald Trump, too, is an interventionist, the difference being that his way of helping is to raise tariffs. Given its historic role as proponent of the open world economy, this shift matters.
產(chǎn)業(yè)政策又重新成為政府干預(yù)的強(qiáng)大驅(qū)動(dòng)力。這一論斷適用于世界上許多地方。這一論斷對(duì)習(xí)近平領(lǐng)導(dǎo)下的中國(guó)似乎比對(duì)鄧小平時(shí)期的中國(guó)更成立，尤其是現(xiàn)在中國(guó)希望尋找能夠替代房地產(chǎn)投資的經(jīng)濟(jì)增長(zhǎng)引擎。但最顯著的轉(zhuǎn)變發(fā)生在美國(guó)。羅納德?里根(Ronald Reagan)曾宣稱：“英語(yǔ)中最可怕的幾個(gè)字是：我是政府的，我來(lái)幫忙了。”如今，拜登政府正在熱情地“幫忙”。唐納德?特朗普(Donald Trump)也是一位干預(yù)主義者，而不同之處在于，他“幫忙”的方式是提高關(guān)稅。鑒于美國(guó)作為開(kāi)放型世界經(jīng)濟(jì)支持者的歷史角色，這一轉(zhuǎn)變意義重大。