As The U.S. Charts Its Economic Course, It May Take A Cue From China’s Playbook
Forbes.com
By Drew Bernstein
Excerpt:
Drew Bernstein, co-founder and co-chairman, Marcum Asia contributed an article to Forbes.com. The article addresses what lessons the U.S. could learn from China in terms of industry policy
“Recently, the G8 Summit hit on a few interesting aspects of how the global economy has shifted. What stands out to me is the parallels between the two most powerful countries in the world. If imitation is the sincerest form of flattery, then China’s government should be blushing over America’s recent embrace of industrial policy. While politicians dating back to Alexander Hamilton have seen the virtues of protecting American domestic manufacturing, Washington’s policy consensus in recent decades has emphasized the role of free markets in spurring trade and innovation.”