Biden Embraces Industrial Policy Despite Economic Concerns
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Biden administration embracing 'industrial policy' by heavily subsidizing sectors like green energy and semiconductors, worrying some economists.
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Trump administration started protectionist trend with tariffs and sanctions, paving way for Biden's industrial policy.
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Massive government subsidies and trade barriers risk making industries weaker and dependent on aid.
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Sanctions have quintupled under Bush, Obama, Trump and Biden, hurting US businesses and often backfiring.
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Shift toward industrial policy and sanctions is a historic change from decades of free market policies.