Europe’s new “Industrial Accelerator Act” is the Commission’s clearest attempt yet to turn public spending into an industrial-policy lever that systematically favors EU-based production, especially in clean-tech value chains where China’s scale and cost advantage has become politically intolerable.

The proposal would attach “Made in Europe” and, in many cases, low-carbon conditions to both public procurement and to public support schemes, explicitly using the purchasing power of European governments to create lead markets for domestically manufactured technologies.

China has just taken a notable step to ease its tight grip on capital outflows by increasing the amount of money that approved domestic institutions can invest in overseas assets—marking the first such move since May 2024. According to figures released by the State Administration of Foreign Exchange (SAFE), the foreign-exchange quota under China’s Qualified Domestic Institutional Investor (QDII) program rose to $170.9 billion at the end of June from $167.8 billion previously.

The modest increase, which had been widely anticipated by market participants, signals that authorities are now more comfortable with outward flows, partly because depreciation pressure on the yuan has subsided in tandem with a weaker dollar. Meanwhile, Chinese investor enthusiasm for foreign assets—especially U.S. equities—has moderated.

The U.S. Treasury Department has issued new guidance regarding the $7,500 electric vehicle (EV) tax credit, allowing consumers to use it as a point-of-sale rebate starting from January. Presently, consumers can only utilize the credit when filing their tax returns…