China’s Industrial Strategy
Adam highlights the significant scale of China's industrial policy spending, which is estimated at 1.7% of GDP—three times that of Europe and the US. He discusses the strict subsidy regulations in Europe, contrasting them with the ongoing competitive subsidy landscape in the US. The conversation reveals a shift in China's approach post-2008, as they doubled down on industrial growth while Western nations did not follow suit, culminating in the ambitious Made in China 2025 initiative.In this clip
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