A Debate with Scott Sumner: Industrial Policy, China, and National Security

In this episode, Noah Smith and Erik Torenberg are joined by Scott Sumner, an American economist and previously the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University, examine the impact of U.S.-China relations on economic and industrial policies, discussing topics such as tariffs, manufacturing capabilities, technologies like drones and batteries, climate change, defense strategies, and the evolving role of neoliberalism.--🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse.--RECOMMENDED PODCAST: Modern RelationshipsCheck out Modern Relationships, where Erik Torenberg interviews tech power couples and leading thinkers to explore how ambitious people actually make partnerships work. This season's guests include: Delian Asparouhov & Nadia Asparouhova, Kristen Berman & Phil Levin, Rob Henderson, and Liv Boeree & Igor Kurganov.Apple: https://podcasts.apple.com/us/podcast/id1786227593Spotify: https://open.spotify.com/show/5hJzs0gDg6lRT6r10mdpVgYouTube: https://www.youtube.com/@ModernRelationshipsPod--Highlights from the Episode: Neoliberalism vs. Industrial Policy: The world is moving away from neoliberalism toward industrial policy and authoritarian nationalism. Chinese manufacturing of green technology has supported global climate efforts, sparking debate over whether US trade barriers on Chinese green tech are counterproductive, alongside a discussion of carbon taxes versus other climate policies. China now matches US and allies combined in manufacturing capacity. Trump's tariffs are seen as ineffective for reindustrialization, while Biden's CHIPS Act and IRA are viewed as more successful in specific sectors, prompting a discussion on targeted versus broad industrial policies. Housing and healthcare costs are significant barriers to living standards. --SPONSORS: Notion📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://notion.com/upstreampod NetSuiteMore than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102AdQuickThe easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world. --SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected] ON X:@ScottSumnerTMI@noahpinion@eriktorenberg@turpentinemedia--LINKS:Noahpinion: https://www.noahpinion.blog/The Pursuit of Happiness: https://scottsumner.substack.com/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.