similar place maybe, but likely dumb implementation. i don’t dispute (indeed it was the subject of the “skeet” that provoked us) that there are political economy traps that often lead to failure and worse of industrial policy. 1/

industrial policy, the “China model”, are all hard to do right. but just because a thing is hard doesn’t mean you can just not, just abstain, in a competitive world where rivals are doing hard things well. /fin