In Award Interview: "Openness Is the Key to Innovation"
French economist Philippe Aghion, a professor at the London School of Economics and one of this year's Nobel Prize in Economics co-recipients, has openly criticized U.S. President Donald Trump's protectionist policies.
According to foreign media outlets such as AP and AFP on October 13 (local time), Professor Aghion stated in a phone interview with reporters conducted immediately after the announcement of the prize winners, "I do not welcome the United States' protectionist approach," adding, "Such policies negatively affect global growth and innovation."
Professor Aghion, together with Joel Mokyr of Northwestern University and Peter Howitt of Brown University, was recognized for his contribution to establishing the theory of 'sustainable growth,' earning him a place among this year's Nobel laureates in economics.
He emphasized that "openness is a key driver of economic growth, and any measures that undermine openness hinder growth," directly targeting the high tariff policies being pursued by the Trump administration in its second term. He further warned, "If the world erects barriers to trade, it will ultimately harm everyone in the long run."
He also pointed out that Europe is falling behind in the technological race, stating, "The United States and China have found ways to appropriately balance competition policy and industrial policy. Europe needs to learn from them as well."
Professor Aghion remarked, "Europe has long been overly wary of industrial policy under the pretext of 'promoting competition,'" and suggested, "In sectors where Europe has strengths-such as defense, environment, artificial intelligence (AI), and biotechnology-strategic industrial policy should be strengthened."
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