Globalisation, already slowing, is suffering a new assault

Contributing sentiments towards policy:

59% : The Inflation Reduction Act () will spend nearly $400bn to boost clean energy and reduce dependence on China in important supply chains, such as for batteries for electric vehicles (s).
58% : By our calculation, duplicating the world's existing stock of investments in semiconductors, clean energy and batteries would cost between 3.2% and 4.8% of global .
57% : Instead, he said, America had to pursue "as large of a lead as possible" in chipmaking, quantum computing, artificial intelligence, biotechnology and clean energy.
56% : In part, this is a response to the pandemic: the European Union, for example, adopted a gargantuan recovery package, involving more than $850bn in spending, including many handouts for business.
56% : And the logic of the zero-sum world means further escalation in government intervention is likely: after all, if no country's firms can be assured of equal treatment and open market access when operating abroad, it makes more sense for all countries to nurture and protect industries at home.
55% : Australia and Canada are shelling out billions of dollars to boost mining and processing of ores.
42% : As America, once the world's loudest advocate of free trade and open economies, adopts and reinforces such policies, other countries are mimicking its approach.
39% : If the European Union follows through on threats to mimic America's protectionist industrial policies, "Japan, Korea, China, every country will engage in this very difficult race to ignore global trading rules."

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.