Dani Rodrik for Project Syndicate.
July 7, 2020
Many Western economists presume that governments are not very good at identifying industries that merit support, and that domestic consumers and taxpayers incur the bulk of the costs. By the same logic, if Chinese policymakers effectively targeted activities where social benefits exceed private benefits, then it is not clear why foreigners should complain. The objective should be to build more productive, more inclusive economies at home – not simply to outcompete China or try to undercut its economic progress.