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Explicit promotion of the microchip industry

Question:

It may be argued that Japan's explicit promotion of its microchip industry was an excellent example of successful industrial policy. What criteria would you apply to determine whether such a policy is or is not successful?

Judging from your own stated criteria, was Japan's exercise successful? Why or why not? Please explain in detail in 200 words or more.

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Finance Basics: Explicit promotion of the microchip industry

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