These questions are often bundled together under what has become known as industry policy. Around the world, governments are openly discussing where and how they should intervene to support long-term national resilience. It might involve direct subsidies, regulatory change, targeted public investment, procurement preferences, or support for research and development. At other times, industry policy is far less defensible – subsidising unproductive incumbents is a familiar and costly mistake. But over time, it is difficult to imagine any public investment that offers greater long-term benefit.

Source: New Zealand Herald February 15, 2026 08:02 UTC