In the past 75 years the world was either influenced by, competing with or learning from U.S. corporations. This is no longer true. As the economic power shifts from the West to the East, U.S. corporations are lagging behind many Asian and European competitors. In a world dominated by interventionist and neo-mercantilist states, having an ineffectivenon-activist government becomes a costly neoliberal delusion which weakens the world’s largest economy. American conservative economists continue talking about the superiority of the free market system in generating new technologies and the U.S. President imposes tariffs to protect sunset industries and restricts technology trade with China.
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