industrial

Economists have called this "the China shock" and it's been one of the driving forces behind the rise of populist parties in former industrial parts of Europe and the United States.

With the guidance of Sidney Hillman, an ally of President Roosevelt, the fund moved unions away from their confrontational past toward a model of “industrial democracy” that recognized the common interests of business and labor.

In a statement, Miliband said the plan would bring "a new generation of good industrial jobs" to communities across the UK.

“The auto industry, long built on global supply chains, now finds itself at the mercy of a single nation’s industrial policy,” said Michael Dunne, a longtime China automotive industry consultant, in a newsletter last week.

Until then, involution is the price to pay for Chinese leader Xi Jinping’s goal of industrial self-reliance and global leadership in advanced technologies.