Polycrisis or systemic chaos?

Global climate financing can support a green transition in the Global South.

Is it enough? Benjamin H. Bradlow & I point to its limits if not joined by technology transfers from the Global North.

There is both legal precedent & a moral imperative for this.

Free: rdcu.be/dF8xI

Some thinking about the UK Labour Party with Matthias Matthijs in Foreign Affairs. Not paywalled. The term ‘homeopathic Bidenomics’ comes from Jonathan Hopkin. Credit where it’s due: foreignaffairs.com/united-kingdom…

IMF says industrial policy works when when (1) targeted sectors generate measurable social benefits like emission cuts, (2) do not discriminate against foreign firms and (3) the government has strong capacity to administer and implement such a policy. Ask China about condition 2

Whatever special protection the 'ivory tower' was supposed to provide is long evaporated

Leapfrogging not market failure defines China game in industrial policy

I’m puzzled by all the fretting about China trade shock 2.0. First, a subsidy war in EVs and batteries is actually a good thing since there is no global carbon tax. Second, we are no longer in hyperglobalization. Importing countries are free to respond. Remember the Japanese…

NEW PUBLICATION in NatureSustainability:

Alexandros Kentikelenis and I argue that if green industrial policies are not globalized thru technology transfers to the Global South, the hopes of this policy approach for both climate and development are likely to be dashed.

doi.org/10.1038/s41893…

State Coordinated financial capitalism provides Chinese corporates with exceptional flexibility

The stink of Diesel fumes and noise pollution in European cities is shocking after having spent two weeks in Chinese cities with tens of millions.

📈Who drives the global electric cars revolution? China of course, with 14 million EVs on the road, compared to 5.7m in🇪🇺 and 3m in🇺🇸 - and it is accelerating fast. This and many other green transition facts in our Bruegel European Clean Tech Tracker: bruegel.org/dataset/europe…

This is the awarded article on how technical neoliberalism has been locked in modern macro models by strategic choice. The two cannot be decoupled unless theough an equally strategic move. Dismal science, alas. zeithistoriker Benjamin Braun Adam Tooze Daniela Gabor Alexandros Kentikelenis

Forget direct subsidies. The real story in the Chinese developmental state is GGFs.

Finally comparative data on Chinese industrial policy funds

This is good, but far from good enough when Chinese competition dwarfs you in volumes of production AND innovation