Provided by Dow Jones What the U.S. Can Learn From China s Industrial Policy Mistakes-and Successes For years industrial policy -encouraging the growth of specific industries with government help-was a dirty word in the U.S. Now it is one of the few things many Democrats and Republicans agree on. Separate bills moving through the U.S. Congress with bipartisan support would lift federal spending on research and development, science education, and on grants for semiconductor plants by as much as $250 billion. The reason for this sudden outbreak of bipartisanship is no secret: rising concerns over Chinese competition. A separate roughly $1 trillion bipartisan infrastructure bill is being sold along similar lines.
EMEA Morning Briefing: Powell Says Fed Still Expects Inflation to Ease
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EUR/USD Meeting Sellers On Spikes, Lower Lows At Sight
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Jul 13, 2021 4:16 AM UTC We set a very clear marker, I think, not a quantitative marker, but a very clear marker that we want substantial further progress [on job market improvement] relative to where we were during the period before the coronavirus pandemic took hold, Mr. Williams told reporters after a speech. That s where I m focused, clearly right now we have not achieved that, he said. China s Monetary Policy Slips a Gear Into Neutral China just trimmed the reserve requirement ratio for banks-one of its major monetary policy instruments-for the first time since the height of the pandemic. There is more: China s monthly lending data released Friday also showed economywide growth in debt and equity finance outstanding stabilizing at 11% year over year after months of sharp slowdowns, and bank lending ticking up. China s monetary policy has shifted from a tighter stance to neutral.