America's Zero-Sum Economics Doesn't Add Up
via Foreign Policy
Adam S. Posen assails the Biden administration's policies to protect US-based manufacturing against foreign competition, particularly its "Made in America" regulations and extensive tech subsidies, as self-defeating, costly, and likely to backfire. The fear of China as a "direct threat" to US economic security is overblown, and it would be a mistake to copy China's unsuccessful industrial policies.
Fully reimbursing SVB depositors may prove to be a bad move