User:Lunine/sandbox

Following the Financial Crisis of 2007–08, many countries around the world – including the US, UK, Australia, Japan and most countries of the European Union – have adopted industry policies. However contemporary industry policy generally accepts globalization as a given, and focuses less on the decline of older industries, and more on the growth of emergent industries. It often involves government working collaboratively with industry to respond to challenges and opportunities.[23] China is a prominent case where the central and subnational governments intervene in nearly all economic sectors and processes. Even though market mechanisms have gained in importance, the state control prevails. In order to catch-up and even overtake industrialized countries technologically, China's "state activities even extend to efforts to prevent the dominance of foreign investors and technologies in areas considered to be of key significance such as the strategic industries and the new technologies"[24] including robotics and new energy vehicles.