The author defines industrial policy as a selective strategy where the state deliberately targets specific industries to drive innovation and structural transformation rather than applying universal market rules. In China’s socialist market economy, this approach is institutionalized through “constructive markets” and inter-governmental competition, creating a nationwide system that mobilizes resources while leveraging market mechanisms.
Source link: https://thetricontinental.org/wenhua-zongheng-2025-1-industrial-policy-chinese-characteristics/
