The rise of the Chinese EV industry has been enabled not only by generous government subsidies but also by profound changes in strategy and organization, and in particular by a distinctive revival of vertical integration—at both individual firm and national…

As dark clouds gather on the horizon of the global economy in the third year of the pandemic—with debt stocks swollen, interest costs rising, and growth undermined by energy insecurity and war—policy makers and pundits are anxiously watching sovereign credit…