I would say what other countries are doing, including China, Korea, and Japan, which are well known for using industrial policy to leverage the economy and create jobs, is not controlling business but working with business and saying, “Okay, where can we get the biggest bang for our buck given the current global situation, the regional situation, and our domestic situation?”
Japan came gangbusters out of World War II into shipbuilding, and when that matured and others started taking over, it went to Korea, and they actually had a strategy for getting out of shipbuilding and getting more into auto making. Auto making has been fantastic for Japan, and now if you talk to Japanese bureaucrats, they'll say, “We are moving out of automotive and we're going to be moving into aerospace, aircraft, and bio-life sciences.”
So they have these strategies. They talk to their main sector, business sector organizations, and they form these policies. They're not perfect, but they certainly have proven successful in Japan's economy. China does the same thing. Korea does the same thing. I think we could probably learn from something like that. Maybe we don't want to mimic it. All the work you do in developing those policies gives you a road map of what's going on in the global trade market. So the worst you can do is just have a great road map of what's going on, and the best you can do is actually adapt a policy that fits in and takes advantage of what you're finding out there.