@michaelxpettis Thank you for listening, @michaelxpettis! I couldn't agree more: "The point is to understand when and how it works and when and how it doesn't."
Very interesting Soumaya Keynes podcast with John Minnich on Chinese industrial policy. Minnich makes the point (surprisingly controversial among mainstream economists, although it shouldn't be) that industrial policy – like trade policy, I would add – can be expansionary under one set of conditions and contractionary under another. The point is to understand when and how it works and when and how it doesn't.
@SoumayaKeynes
https://t.co/hcRCCMk5ae via @ft
@SusanShirk1@kyleichan Thank you @SusanShirk1! The JOP article should be out later this year, but you can find a version here:
https://t.co/hiscTpWvWQ
Or just look under the research tab at https://t.co/dzoUeutj60
Another related article was recently published in ISQ:
https://t.co/PigHViUGgt
@jonasnahm Excellent thread @jonasnahm. Couldn't agree more. I owe much of what I know about the wind case from your and Joanna Lewis's work. I hope I characterized the sector correctly!
Really important framing of China's so-called "forced technology transfer."
These were voluntary agreements that foreign companies entered with open eyes. China didn't have the benefit of being a US ally like Japan, South Korea, and Taiwan. So they had to use the leverage they had--in this case market access--to get the tech they needed.
Awesome discussion with @john_d_minnich on The Economics Show with @SoumayaKeynes:
https://t.co/H4dpZ2gnIa
Interesting podcast; full of case history and institutional detail --
Agree with Minnich's view that China's auto JV requirement was actually rather successful (created a modern supplier industrial ecosystem and thus the foundation for the EV explosion)
@ShipingTang I fully agree @ShipingTang! That's what I was trying to get at by emphasizing domestic firms' absorptive capacity a little later on in the discussion, but you're absolutely right: the success of foreign technology transfer is depends heavily on what domestic firms do with it.
@SoumayaKeynes One small correction: When discussing China's installed wind power capacity, I say "Between 2004 and 2005...". I meant to say "Between 2004 and 2009...". Apologies!
It was a real pleasure to chat with @SoumayaKeynes about technology transfer policies in China -- and what other countries can learn from China's experience.
Listen here: https://t.co/r9ADhnTjtj