The world economy
Homeland Economics
Governments across the world are rediscovering industrial policy. They are making a big mistake, argues Callum Williams
- Redividing the world: Governments across the world are discovering “homeland economics”
- Demand for supplies: Attempts to make supply chains “resilient” are likely to fail
- State v market: “Homeland economics” will make the world poorer
- Missing the point: New industrial policies will make the world more unequal
- Second-best: Green protectionism comes with big risks
- In search of a problem: New industrial policies will not help economic stability
- Insight: Video: Busting globalisation myths
- The world economy: Sources and acknowledgments
Redividing the world
Governments across the world are discovering “homeland economics”
But introducing industrial policy is a big mistake, argues Callum Williams
Demand for supplies
Attempts to make supply chains “resilient” are likely to fail
And they are likely to be costly
State v market
“Homeland economics” will make the world poorer
Industrial policy and protectionism could endanger trade, without making Western economies safer
Missing the point
New industrial policies will make the world more unequal
Workers in the developing world will especially lose out
Second-best
Green protectionism comes with big risks
Some analysts worry that new laws could slow the green transition
In search of a problem
New industrial policies will not help economic stability
Globalisation has not been perfect but it has been effective
Insight
Video: Busting globalisation myths
How our correspondent followed his hunch about protectionism
Previous report
Warfare after Ukraine
Battlefield lessons
The war shows how technology is changing the battlefield. But mass still counts, argues Shashank Joshi
- Lessons from Ukraine: The war in Ukraine shows how technology is changing the battlefield
- Electronic warfare: The latest in the battle of jamming with electronic beams
- Military logistics: Why logistics are too important to be left to the generals
- Total war: Technology is deepening civilian involvement in war
- Russian adaptation: How Ukraine’s enemy is also learning lessons, albeit slowly
- Naval warfare: How oceans became new technological battlefields
- Best practice: Western armies are learning a lot from the war in Ukraine
- Battlefield lessons: Video: How we studied the lessons of Ukraine