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Johns Hopkins University | SA.503.146

Globalization and the New Politics of Industrial Policy

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After decades of ever-greater global economic integration, the last five years have seen a remarkable reversal of globalization amidst a broad focus on resilience and security over economic efficiency. This anti-globalization push is driven by a range of factors, including by concerns about China’s dominance in supply chains for critical industries, a deterioration of the US-China political and economic relationship, pandemic-related concerns about interdependence and lack of resilience in global supply chains, and political goals of rebuilding manufacturing economies in the West. This course critically examines the substantial transformations currently occurring in the global economy, focusing on the recalibration of economic integration driven by security and competitiveness concerns. The course then covers the resurgence of industrial policy, tracing its historical evolution and showcasing the renewed role of governments in shaping economic development and competitiveness. The seminar aims to provide a nuanced understanding of these ongoing transformations, equipping students with analytical tools to navigate the new landscape of economic disintegration. The course examines supply chain interventions in comparative perspectives, including the new American focus on domestic production (CHIPS and IRA), Europe's response to the transatlantic relationship, and the role of China in prompting a new politics of reshoring and friendshoring in key industrial sectors.

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