Walk into any industrial policy meeting and the conversation will, eventually, land on the money. Who writes the check? In rich countries and developing ones,
Why State Development Banks Still Build the Industries That Private Capital Won’t Touch
Walk into any commercial bank and ask for a 15-year loan to build a heavy-manufacturing plant from scratch. You’ll get a polite refusal before the
State Development Banks and the Money Behind Strategic Industries—A No-Nonsense Breakdown
Most people never think about state development banks. They sit quietly behind big industrial projects, somewhere between government bureaucracy and high finance, rarely making headlines
How Russian Agriculture Became a Net Exporter Despite Sanctions
The transformation of Russian farming from a broken post-Soviet sector into a global export powerhouse is one of the more surprising economic shifts of the
Why Domestic Procurement Policies Matter for Industrial Policy
Industrial policy isn’t just about subsidies and trade barriers. A lot of it comes down to something far more basic: how a government spends its
The Case for Import Substitution in Critical Manufacturing
Why Import Substitution Demands Attention Now Global supply chains have revealed their vulnerabilities. The pandemic, geopolitical conflicts, and trade disputes have demonstrated that relying on
How Sanctions Are Reshaping Russian Industrial Supply Chains
Since February 2022, Russian industry has faced an unprecedented realignment of its supply chains. Western sanctions did not simply restrict access to certain goods—they restructured