The Industrial Policy Shift: A New Era of State Sponsored Growth? A seismic shift is underway in the global economy, driven by governments worldwide embracing industrial policy as a key tool for economic supremacy.
This reversal from earlier stances, including that of the World Bank, acknowledges the growing importance of state sponsored economic development in an era of heightened competition and uncertainty.
The World Bank's report notes that 183 out of 195 countries now target at least one industry, a significant departure from the past when global trade was expanding and supply chains were deepening.