A new article by BWC Member Paul Sheard argues against concerns over national security in Nippon Steel’s proposed acquisition of U.S. Steel on the basis that the modern economy has shifted away from manufacturing and the deep security alliance between the U.S. and Japan. Sheard proposes that the deal would likely bring capital, innovation, and operational improvements—strengthening, not weakening, the U.S. industrial base. 

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All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.