Feb 24, 2023Liked by Clyde Prestowitz

Western Davos man - leaders blinded by greed, enriching themselves while weakening their own nations. Western Davos man stupefied by the intoxicating idealism that commerce can change the hearts and minds of men from other worlds, men carved from the granite block of ancient nations and empires. Western Davos politicos sacrificing the security of their homelands for the fleeting enjoyment of mammon.

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Yes. Good comment. Thanks. I did not mean that we should necessarily imitate all that China does. Only that we should imitate having a full industrial policy.

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Rather than emulate some industrial policies of a strategic rival with a command-and-control economy, US would be better off implementing its own brand of industrial policies which should include:

- Increase substantially nondefense capital goods outlay, thereby increasing worker productivity.

- Increase domestic sourcing of capital goods as a percentage of total capital goods consumed in US to 80% or higher, thereby improving US current account balance.

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