Non si può sempre giocare di rilancio

China has redefined the global balance of power by establishing a second economic hub beyond the United States. Chinese competition has become increasingly fierce, worsening the American trade balance. Consequently, the United States has abandoned the free market ("laissez-faire") and begun protecting its economy with tariffs and state aid to businesses. A new era of economic competition has dawned, in which the state plays an increasingly important role. On this point, Europe is lagging behind. Industrial policy actions must be faster, more thorough, and more incisive.