So about that invisible hand...
"The problem for the West... China’s industrial dominance is underpinned by decades of experience using... all the levers of government & banking, while encouraging frenetic competition among private companies."
“In 2022, Beijing accounted for 85% of all clean-energy manufacturing investment in the world”
How China Pulled So Far Ahead on Industrial Policy - Gift link:
https://www.nytimes.com/2024/05/27/business/economy/china-us-tariffs.html?unlocked_article_code=1.vE0.sLyF.pRyVplaJUeg3&smid=url-share
cc: @jgkoomey