2 ms·
It's called industrial policy and it's pretty much the only way nations can make the leap from developing to developed. The thing is, industrial policy and most
by standardUser 6y ago
It's called industrial policy and it's pretty much the only way nations can make the leap from developing to developed. The thing is, industrial policy and mostly-free trade can and do work really well together, but for about a generation the "Washington Consensus" of free trade absolutists didn't allow it. Those countries that did so anyway, like China, were able to thrive, while smaller nations got stuck as resource exporters.