Really interesting, Alex. Essay is a good illustration of where the limits of laissez-faire economics lie. Industry policy as practiced for many decades in some AsiaPac nations has put them at great strategic and competitive advantage now. More than a few ‘developed economies’ now suffer from low resilience to external shocks. Many nations have overestimated how ‘smart’ they really are.
Really interesting, Alex. Essay is a good illustration of where the limits of laissez-faire economics lie. Industry policy as practiced for many decades in some AsiaPac nations has put them at great strategic and competitive advantage now. More than a few ‘developed economies’ now suffer from low resilience to external shocks. Many nations have overestimated how ‘smart’ they really are.