Industrial policies (IP) are resurgent globally, driven by digital transformation, energy transition, and geopolitical tensions. Large economies like China, the EU, and the US are using tariffs and subsidies to strengthen domestic value chains. Developing nations are also implementing IPs/Productive Development Policies (PDPs), focusing on public goods, export promotion, and attracting FDI. This new wave marks a shift from the deregulation era, aiming for structural economic transformation and addressing market failures.
