Summers Calls Biden’s Economic Policies ‘Increasingly Dangerous’
- Cites dangers of ‘manufacturing-centered economic nationalism’
- Calls Biden’s moves appropriate but worries what will follow
Larry Summers
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Former Treasury Secretary Larry Summers says he largely supports President Joe Biden’s economic policies but worries about the White House’s focus on industrial policy and outbound investment limits, describing the approach as nationalistic and “increasingly dangerous.”
“I am profoundly concerned by the doctrine of manufacturing-centered economic nationalism,” Summers said Tuesday at an event hosted by the Peterson Institute for International Economics, alongside Robert Zoellick, formerly the head of the World Bank and a chief US trade representative.