Picking international champions

Some governments used to support individual companies with a view to helping them become successful. They were known as national champions. The record was mixed, and today governments tend to concentrate more on providing a good business environment for all companies.

There may be lessons for Western governments in their development policy. They often identify foreign leaders as being worthy of celebration, with potential for embarrassment if they do not live up to their billing. As with industrial policy, the record is mixed. Often, a country's institutions, generally a product of its people and history, should be celebrated rather than the leaders.

The obvious change in development policy would be to avoid identifying with particular leaders, but instead provide support for the emergence of good governance. So instead of giving selected leaders social and other benefits, Western countries might outlaw bribery by their own companies or make market access contingent on human rights standards.

The idea is very vague, but it might have legs. I have no data on whether it would be successful.