How US Industrial Policy Is Changing the World Economy

US President Joe Biden speaks in Durham, North Carolina on March 28. — US President Joe Biden speaks in Durham, North Carolina on March 28.
Photographer: Cornell Watson/Bloomberg

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By Alan Crawford

March 30, 2023 at 10:00 AM UTC

While President Joe Biden embarks on a tour to promote the impact of his economic agenda on America, it’s already sending shockwaves across the globe.

The suite of policies enacted so far amounts to a US industrial policy with massive state intervention in the economy — and is forcing governments from Europe to Asia to respond in kind.