Richard Baldwin on Muck Rack

Richard Baldwin

Verified
Lausanne, Vaud
As seen in: VoxEU.org, Hello Monday with Jessi Hempel, LinkedIn, Wiley Online Library, Cambridge University Press & Assessment, The Wall Street Journal, Substack, Agenda (World Economic Forum), Trading View, The National, I by IMD and
Prof of Int’l Econ @IMD_Bschool; Founder l @VoxEU; NonRes Fellow @PIIE. Books:Globotics Upheaval 2019, MITEconPhD, see my weekly long-form at Substack
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Articles

How America Out-Deindustrialised Europe

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By Richard Baldwin Verified
| LinkedIn
The EU offshored to itself, ran a manufacturing trade surplus, and then there was Ireland. By Richard Baldwin, Saul Estrin and Bob Hancké, 10 July 2026. Factful Friday. Introduction. The US manufacturing share of GDP fell 5.7 percentage points from 1995 to 2022; the EU only 3.0. How did that happen? The EU economy, they say, is over-regulated, over-taxed, and over-aged with decrepit, out-of-date factories.
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How America Out-Deindustrialised Europe

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By Richard Baldwin Verified
| Substack
By Richard Baldwin, Saul Estrin and Bob Hancké, 10 July 2026. Factful Friday. The US manufacturing share of GDP fell 5.7 percentage points from 1995 to 2022; the EU only 3.0. How did that happen? The EU economy, they say, is over-regulated, over-taxed, and over-aged with decrepit, out-of-date factories. The US economy, they say, is high-tech, risk-loving, with cutting-edge factories forever reinventing themselves to stay at the frontier.
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China’s Phantom Deindustrialisation

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By Richard Baldwin Verified, Jonathan Lishawa, Camilla B. Jensen
| LinkedIn
Not one factory closed to produce that decline. What looks like deindustrialisation isn't. China's REAL factory output went up six-fold, outrunning the whole economy. The decline is price illusion. The entire fall in the share is a 46% collapse in the relative price of manufactures to China’s GDP deflator. I call it phantom deindustrialisation. Overcapacity is a competitiveness story, not a share-of-GDP story. This week's Factful Friday, with the five charts that close the paradox to the last decimal.
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