Comment Re:Mercantilism, it works (Score 1) 98
The EU isn't exactly free of state aid. It gives a shit ton of subsidies to various industries about as much as the US. This includes tax breaks and deals for EV factories (Tesla Berlin, soon perhaps Tesla Spain), batteries, solar, etc. 21st century manufacturing. China is, of course, an outlier in how much State aid it gives to its domestic companies (a shit ton).
This ultimately isn't incompatible with globalism. States can pump what $$ they feel like into industries that it views as important to keep domestic. But States don't have unlimited funds (as China is finding out now). They can prop up some industries as a national policy, but not every one. Ultimately capitalism still wins so long as no State is dumb enough to actively cut off trade (Trumpers) -- only bias it via subsidies.