The writer is an adjunct professor at NYU School of Law and former head of North America for CIC, China’s sovereign wealth fund
In February, President Donald Trump directed the Treasury and commerce secretaries to develop a plan for a US sovereign wealth fund.
Although such a fund has yet to be established, the government’s acquisition in August of a 10 per cent equity stake in US chipmaker Intel demonstrates that active state participation in industrial sectors of strategic importance to national security is part of an increasingly clear and focused strategy.
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