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In marketplace economies, industrial policies have turn into additional attractive to market innovation and advanced manufacturing to compete in the ongoing technological revolution. At the exact same time, China is attempting to attain greater self-sufficiency in the higher-tech sector through ample state intervention that will have critical implications for the deeply interconnected Indo-Pacific economies. Not only are societal alterations escalating the exposure of low- and middle-earnings groups to adverse events, but their capacity to cope and recover is not enhancing accordingly.
