Allianz Trade has published a report, ‘Industrial policy: old dog, new tricks?’, which argues that the absence of a strong industrial policy is causing the European economy to fall further and further behind China and the US. The report suggests that rather than developing policies based on its own strengths, the billions it invests are mainly used “to limit its backwardness”. Allianz Trade argues that this is “a dead end” and the EU’s industrial policy is “a balancing act gone too far”. In the report, Allianz Trade argues in favour of a European industrial policy focused on innovation ecosystems, with ‘horizontal’ policies that target specific themes. To read Allianz Trade’s news release, with a link to the full report, go to https://www.allianz-trade.com/en_BE/news/latest-news/eu-economy-suffers-from-weak-industrial-policy.html.