Industrial policy has been a frequent subject on Smith's blog, for those who don't follow it. (He's for it, and thinks that Biden's industrial policy was mostly good - it's worth following the links in this post.) This post focuses on defense-related geopolitical industrial policy goals and pros and cons of anticipated changes under the incoming Trump administration and Chinese responses. Particularly, he highlights two major things China can do: Restrict exports of raw materials (recently announced) and use their own industrial policy to hamper the West's peacetime industrial policy (de facto policy of the last 30 years). These are not extraordinary insights, but it's a good primer on the current state of affairs and policies to pay attention to in the near-future.
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Notes -
Throughout most of it's history China had a tributary empire, regarding itself as the centre of civilisation (hence the 'Middle/Central Kingdom'). Neighbouring states were generally forced to adopt Chinese customs and pay tribute (with those that didn't being considered barbarians). It also expanded considerably over the centuries.
It wasn't colonial in the same way as Western European powers were and didn't have overseas territorial expansion or settler colonies (presumably largely due to China having such extensive land borders and territory to expand into), but it was definitely imperialistic.
One might argue that imperial Chinese history has little to no bearing on the posture of the modern Chinese state. As I understand we don't have good insight into the internal dynamics and political factions within the CCP, so it's difficult to talk definitively, but I do think it's pertinent that:
In terms of foreign relations policy the argument is more mixed. Certainly the CCP's stated foreign relations principles generally emphasise territorial respect, non-aggression and non-interference, and as I understand it the CCP does generally vote in accordance with these at the UN. However:
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