Premature doom-ism from the Economist here, but perhaps not surprising seeing that they are historically a magazine for the capitalist class.
US state intervention into the free market - a.k.a 'Bidenomics' - is in its early stages and will require multi-decadal commitment to seed and train an entire generation of skilled workers in the new / old manufacturing industries. Redirecting excess capital from the services to as-yet unprofitable de facto state enterprises will only bear fruit when those enterprises start producing products which become competitive in the global market. The timeline is measured in decades, US can see it through, though will need an 'economic deep state' to see the policies through the oscillations of the democratic political system
US state intervention into the free market - a.k.a 'Bidenomics' - is in its early stages and will require multi-decadal commitment to seed and train an entire generation of skilled workers in the new / old manufacturing industries. Redirecting excess capital from the services to as-yet unprofitable de facto state enterprises will only bear fruit when those enterprises start producing products which become competitive in the global market. The timeline is measured in decades, US can see it through, though will need an 'economic deep state' to see the policies through the oscillations of the democratic political system