After decades of globalization, outsourcing, and just-in-time supply chains, governments around the world are racing to rebuild domestic manufacturing.

In this episode, we explore why factories have become symbols of economic security, political stability, technological power, and national independence. From semiconductors and batteries to pharmaceuticals, steel, and critical minerals, countries are spending billions to attract strategic industries and reduce their dependence on foreign suppliers.

But can industrial policy truly rebuild lost manufacturing ecosystems, or will the new factory race become an expensive global subsidy war?

This episode explains the return of mercantilist thinking, the political consequences of deindustrialization, the hidden value of manufacturing, and why the future of globalization may be shaped le ...